Spencer, IA: (Feb. 11, 2014) – A change is coming in how Iowa farm ground is assessed.
Clay County Assessor John Lawson says the State of Iowa has a new adjustment formula for agricultural assessments, and that Clay County will use that formula in 2014.
Lawson says the big change is how productive crop ground is assessed versus non-crop ground. He says the change came on the recommendation of a study group composed of the Iowa Farm Bureau and other commodity groups. He says that study committee felt that non-productive ground, like timber or pasture, was assessed at too high a rate, compared to corn ground.
Lawson says shifting the assessment formula is intended to even things out.
Lawson says a typical farmer who owns a variety of land won’t see much of a change. Others will.
Lawson says everyone with a building site will see a reduction because it will be considered non-crop ground under the new assessment.
State law requires that all real property be reassessed every two years.