I find current property tax assessments to be nothing but fiction and am forced to ask why we pay for personnel in a local county assessor’s office at all when their assessed values are complete and total made up hog wash.
I bought our property two years ago and have made no improvements. Beyond mortgage and insurance and being the sole breadwinner for a family of five, I simply cannot afford to fix things up. Despite that, the esteemed officials in the assessor’s office have my property valued at more than four times the amount that we paid for it.
Is this why Iowa farm values are so hopelessly, ridiculously overvalued? The state declares that the land is worth far more than it is, and once someone is stupid enough to pay it, suddenly you have a sale value to prop up your overvalue?
My family farmed in Wheatland from 1872 to 1983 when the farm ground was sold off. The remaining acreage costs $500/month in property taxes on that four acres on a house my grandpa built in 1951 and buildings my father, grandfather, great-grandfather and great-great-grandfather built. I don’t believe my grandpa spent more than $10k to build our home there and now the state is “entitled” to $6k a year in taxes.
You wonder why so much ground is owned by senior citizens? Why younger, more able-bodied people don’t try their hand in what was a family legacy? With the ponzi scheme that this state runs it is never going to happen.