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HomeMy WebLinkAboutCity Conference Board Agenda and Meeting Packet - January 24OFFICE OF THE IOWA CITY ASSESSOR JOHNSON COUNTY ADMINISTRATION BUILDING BRAD COMER ASSESSOR MARTY BURKLE CHIEF DEPUTY TONY STAMMLER January 18, 2023 Dear Conference Board Member: The annual meeting of the Iowa City Conference Board for the consideration of the Iowa City Assessor's FY 2024 budget is scheduled for Tuesday, January 24, 2023 at 4:00 P.M. at City Hall — Emma J. Harvat Hall. Enclosed for your review before the meeting are: 1. The Agenda 2. A copy of the March 1, 2022 minutes. 3. The Proposed Budget 4. Annual performance review responses provided to the Assessor Evaluation Committee (completed by the Assessor) 5. A salary survey 6. Examining Board Application 7. The 2022 Iowa City Assessor's Annual Report There is a decrease in the amount to be raised by the Assessment Expense Fund from last year's amount. The changes consist of: a. $ 15,930 for a 2.50 percent increase in salaries b. $ 13,491 for merit increases c. $ 376 for an increase in FICA d. $ 464 for an increase in IPERS e. $ 11,608 for an increase in health insurance f. $ 100 for an increase to publications & subscriptions g. $ 7,280 for an increase to the county deferred compensation match plan h. $ 200 for an increase to dues i. $ 8.000 for an increase to auto replacement reserve fund $ 57,449 Total lncrease This increase is offset by the following decrease: j. $ 24,507 to eliminate the extra pay period adjustment, a one-time expense k. $ 25,500 to reduce mileage & auto. A new vehicle was purchased last year 1. $ 7,000 to decrease postage, an alternate year expense m. $ 1,900 to decrease printing, an alternate year expense $_5$,907 Total Decrease $ 1,458 Net Decrease 913 SOUTH DUBUQUE STREET • IOWA CITY IOWA 52240 TELEPHONE 319-356-6066 The Assessment Expense Fund levy rate will change from 0.23571 to 0.21892. The increase for salaries is based on a 2.50 percent adjustment within the range that Johnson County uses, similar to a cost of living increase_ The enclosed salary survey indicates that our salaries fall below those of the most comparable assessment jurisdictions in Iowa. The City Assessor Evaluation Committee met on January 6, 2023 to review the performance of the Assessor and the proposed budget, Merit increases allow step increases similar to the pay plans used by the city, the county and the schools. The increases above are also reflected in FICA and IPERS. Health insurance was increased due to a projected increase in rates for the next fiscal year. An increase to publications & subscriptions, as well as in dues to reflect the actual expenses in each category. Mileage & auto was decreased by 525,500. Last year a new vehicle was purchased. This fiscal year will be back to typical mileage and repair expenses. Postage and printing were decreased, because 2023 will not be a reassessment year and we will not be mailing assessment rolls to all property owners. There is a 57,280 expense to cover the new county deferred compensation match plan. The auto replacement reserve fund is starting over with an addition of 58,000. This account builds each year and carries over until a new car is needed. Please feel free to contact me if you have questions about individual items or wish to see any of the supporting documents for this budget. Sincerely, Brad Comer Iowa City Assessor bcomer et iohnsvncoumvim'. a_env (3l9) 356-6066 2 JOHNSON COUNTY BOARD OF SUPERVISORS IOWA CITY IOWA CITY CITY COUNCIL COMMUNITY SCHOOL BOARD The Iowa City Conference Board Agenda Tuesday, January 24, 2023 4:00 P.M A. Call meeting to order by the Chairperson (Mayor). B. Roll call by taxing body. C. Motion to approve minutes of March 1, 2022 Conference Board meeting. Action: D. FY 24 Budget Comment — The purpose of this meeting is to set a date for a public hearing on the Iowa City Assessor's proposed budget for FY 2024. 1. Assessor presents proposed budget (included in packet) 2. Discuss proposed budget. (Possible closed session, pursuant to Iowa Code Section 21.5(1)(i), to evaluate the professional competency of individuals whose appointment, hiring, performance, or discharge is being considered. A motion must be made to adjourn to executive session.) 3. Motion to approve publication on proposed budget. Action: E. Motion to set date for public hearing. (Suggested date: February 21, 2023) Action: F. Present Examining Board application 1. Appoint Examining Board member Action: H. Board comments Adjournment. Action: The Conference Board voles as three voting units, with a majority of the members present for each unit determining the unit's vote. At least two members of a voting unit must be present in order to vote. A quorum is reached when at least two members from two units are present. IOWA CITY CONFERENCE BOARD MINUTES March 1, 2022 City Conference Board: March 1, 2022 at 4:00 P.M. in the Assembly Room at The Center, Mayor Bruce Teague presiding. Iowa City Council Members Present: Alter, Bergus, Harmsen, Taylor, Teague, Thomas, and Weiner. Johnson County Supervisors Present: Green -Douglass*, Green*, Heiden*, Porter, and Sullivan. *Denotes electronic participation. Iowa City School Board Members Present: Pilcher Hayek*. Others Present: Burkle*, Comer, Fruin, Goers, and Fruehling. Dis ital Recording: March 1, 2022. Chair Bruce Teague called the meeting to order. Clerk Comer called roll and stated that a quorum was present. The County (Sullivan) moved to accept the minutes of the last conference board meeting, February 1, 2022, the City (Bergus) seconded and the motion carried unanimously 2/0. The Iowa City School Board, having only one member present, did not have a vote recorded. Chairman Teague declared the public hearing on the FY 22 Budget open. After no comment from the public, the public hearing was declared closed. The City (Alter) moved to accept the proposed budget as published in the Iowa City Press - Citizen on February 10, 2022 and the County (Green -Douglass) seconded. The motion carried unanimously 2/0. There being no further business it was moved by the County (Sullivan) and seconded by the City (Bergus) to adjourn at 4:05 P.M. Motion carried unanimously 2/0. Brad Cotner Clerk, Iowa City Conference Board IOWA CITY ASSESSOR'S OFFICE ITEMIZED BUDGET - ASSESSMENT EXPENSE FUND EMPLOYEE EXPENDITURES SALARIES CITY ASSESSOR CHIEF DEPUTY ASSESSOR DEPUTY ASSESSOR OTHER PERSONNEL MERIT INCREASES (have been added to sarares above) SUBTOTAL FY 2023 FY 2024 INCREASE Current Proposed 133.167 139,160 450% 116,933 122,487 4.75%, 102.867 107,241 425% 284.218 297,718 4 75% (9,762) (13.491) 5637,185 5666,606 6.62% Propoeod salaries include Tend increases and cosi of living edjusirra;nls- EXTFRA PAY PERIOD ADJUSTMENT $24.507 S3 EMPLOYEE BENEFITS EMPLOYER SHARE: FICA 53.770 54,146 0.70% EMPLOYER SHARE' !PERS 66,334 66,798 0.70% HEALTH INSURANCE 193,464 205.072 6.00% SUBTOTAL 313,568 326,016 3.97% TOTAL EMPLOYEE COST 5975,260 5992,622 t78% OTHER EXPENDITURES LEAVE CONTINGENCY 520,000 520,000 0.00% BOARDS BOARD OF REVIEW 21,000 21,000 0,00% BOARD OF REVIEW EXPENSES 200 200 0,00" CONFERENCE BOARD 0 0 EXAMINING BOARD 30 30 0.00% SUBTOTAL 521,230 521,230 0.00% OFFICE EXPENSES MILEAGE & AUTO 30,500 5.000 •83.61% OFFICE SUPPLIES 3,500 3,500 0.00% POSTAGE 9,500 2.500 -73.68% TELEPHONE 1.300 1,300 0.00% PUBLICATIONS & SUBSCRIPTIONS 1,000 1.100 10.00% PRINTING 3,500 1.600 -54-29% INSURANCE 5.200 5.200 000% EQUIPMENT PURCHASE 3,400 3.400 0.00°A DEFERRED COMPENSATION MATCH - 7,280 11DIV10! UNEMPLOYMENT 2.000 2.000 0,00% DATA PROCESSING SERVICES 20,000 20.000 0,00% HUMAN RESOURCE SERVICES 2.100 2,100 0.00% SOFTWARE MAINTENANCE 18.000 18.000 0.00% BONDS & WORKER'S COMPENSATION 1,900 1,900 0,00% COMPUTER REPLACEMENT 2.500 2,500 0.00% SUBTOTAL 5104,400 577,380 -25.88% PROFESSIONAL EXPENSES SCHOOLS & CONFERENCES 13,500 13.500 0.00% DUES 2.000 2.200 10 00% SUBTOTAL 515,500 515,700 1 29% TECHNICAL SERVICES LEGAL FEES & EXPERT WITNESSES AERIAL PHOTOGRAPHY APPRAISAL SERVICE SUBTOTAL TOTAL OTHER EXPENDITURES SUBTOTAL EXPENDITURES 75.000 10,000 1,000 75.000 10.000 1,000 0 00%, 0.00% 0 00% 586,000 586,000 0.00% 5247,130 $220,310 -10.85% 51,222,390 $1,212,932 RESERVES AUTO REPLACEMENT 8,000 TOTAL RESERVES $ - $ 8,000 TOTAL ASBMT EXPENSE FUND BUDGET $1,222,390 51,220,932 -0.12% UNASSIGNED BALANCE 5232,774 5280,458 20.49% TO BE RAISED BY TAXATION 5989,616 5940,474 -4-97% IOWA CITY ASSESSOR'S OFFICE MAXIMUM LEVY ALLOWED MAXIMUM ASSESSMENT EXPENSE FUND 4,198,689,971 X .000675 $2,834,116 IPERS & FICA FUNDS $120,944 UNEMPLOYMENT COMPENSATION & TORT LIABILITY $4,000 MAXIMUM ALLOWED WITHOUT STATE APPROVAL $2,959,060 MAXIMUM EMERGENCY FUND 4,198.689.971 X .00027 $1,133,646 (requires State Appeal Board approval) MAXIMUM THAT COULD BE RAISED BY TAXATION FOR FY 2024 $4,092,706 PRIOR YEARS LEVIES AND RATES ASSESSMENT EXPENSE FUND SPECIAL APPRAISERS FUND TOTAL LEVY FY AMOUNT LEVIED LEVY RATE AMOUNT LEVIED LEVY RATE 1996-97 319,513 0.20450 17,000 0.01088 0.21538 1997-98 318,270 0.19946 52,834 0.03311 0.23257 1998-99 318,699 0.19269 184,357 0.11146 0.30415 1999-00 341,910 0.19784 352,508 0.20398 0.40182 2000-01 359,341 0.19823 180,293 0.09946 0.29769 2001-02 396,829 0.20636 6,442 0.00335 0.20971 2002-03 403,136 0.20694 4,426 0.00227 0.20921 2003-04 412,379 0.20818 10,051 0.00507 0.21325 2004-05 470,398 0.22926 15,728 0.00767 0.23693 2005-06 472,050 0.22525 25,995 0.01240 0.23765 2006-07 529,702 0.23164 0 0 0.23164 2007-08 603,916 0.25868 4,792 0.00205 0.26073 2008-09 611,955 0.24917 1,540 0.00063 0.24980 2009-10 600,013 0.23848 0 0 0.23848 2010-11 621,785 0.23147 8,730 0.00325 0.23472 2011-12 680,786 0.24538 2,608 0.00094 0.24632 2012-13 700,997 0.24164 8,384 0.00289 0.24453 2013-14 769,744 0.25873 N/A N/A 0.25873 2014-15 732,073 0.23866 N/A NIA 0.23866 2015-16 754,689 0.24325 N/A N/A 0.24325 2016-17 804,099 0.24339 N/A N/A 0.24339 2017-18 859,971 0.25141 N/A WA 0.25141 2018-19 838,975 0.23187 N/A N/A 0.23187 2019-20 743,518 0.19747 N/A N/A 0.19747 2020-21 1.073,957 0.25979 N/A N/A 0.25979 2021-22 1,083,586 0.25664 N/A N/A 0.25664 2022-23 989,616 0.23571 N/A N/A 0.23571 2023-24 940,474 0.21892 N/A N/A 0.21892 IOWA CITY ASSESSOR'S ANNUAL PERFORMANCE REVIEW Conducted January 6, 2023 (Completed by the Iowa City Assessor) Assessors Name: Brad Confer Tate of Review: January 6, 2023 Has the assessor adequately performed all duties as required by the Iowa Code § 441 and as outlined in the assessor's job description? Yes, I have performed the duties as required in the code. Much of the credit goes to our knowledgeable staff who allow our office to operate in a very efficient manner. My role includes managing the staff, as well as handling the commercial and multi -residential assessments. I implemented the income approach to value on the apartment properties through a phase in period. This has resulted in a more fair and equitable assessment. 1 have stayed active in the valuation process, despite being in the managerial position. This allows us to have a more successful office in both productivity and cost efficiency. Has the assessor complied with all applicable Iowa City and Johnson County policies and procedures? Yes, we have complied with those policies and procedures. We follow the Johnson County Employee Handbook. There have not been any staff issues to speak of. Our office consists of a dedicated and dependable group of employees who have a good working relationship with each other. What is Iowa City's ranking on the most recent state listing of Coefficients of Dispersion? Also list any other related data, awards, classes or recognitions. Unfortunately, the Iowa Department of Revenue is no longer required to provide the statewide sales ratio study. I was informed that there will be no report for the 2021 and 2022 years. A survey was sent to all 106 Iowa assessors requesting the sales information. 7'he numbers below are based on the 71 jurisdictions who responded. Iowa City ranked first in the state for the 9th consecutive year with a residential COD of 8.74. The Coefficient of Dispersion (COD) is a measure of the average deviation from the median of selling price to assessment ratios, with a low ratio considered good. The median of the 71 jurisdictions was 22.65. The Price Related Differential (PRD), is an indicator of the degree to which high value properties arc over or under assessed in relationship to low value properties. An index of 100.00 indicates no difference in assessments of high value properties in comparison to low value properties. Iowa City was tied for first with a residential PRD of 101. The median of all jurisdictions was 107. The 2021 commercial sales show that we are ranked 2r -{i overall with a COD of 15.26, while the median far all jurisdictions was 29.51. Of those jurisdictions with at least 10 commercial sales, Iowa City ranks lSt in COD. Iowa City ranked 14th overall in multi -residential COD at 13.55, but ranked 5th in those jurisdictions with at least 5 sales. Based on the FY 2023 budget, our office has the 10'x' lowest assessor levy rate in Iowa. The Iowa City assessor levy is .23571, while the median across all 106 assessing jurisdictions is .42713. When considering 2021 census and FY 2023 assessor budgeted expenses, Iowa City has the 5th lowest tax per capita to operate the assessor's office among the 20 highest paid assessors. During the past year, I attended 3 separate conferences in Iowa. The Iowa State Association of Counties (ISAC) Annual School of Instruction, the ISAC Spring School of Instruction, and the Iowa State Association of Assessors (ISAA) Annual School of Instruction. These conferences covered a variety of educational topics. 1 am currently serving on the IDR (Iowa Department of Revenue)/ISAC Working Group SF295. This past fall I completed a year on the ISAA Exemptions Committee. In the past I have worked on numerous committees for the ISAA, as well as representing the East Central District of Assessors as their chairperson. List any pertinent input (anonymously) from the assessor's staff, the community and/or the Review Board regarding the assessor's performance. I have not received complaints from the public, the community, the Board of Review or the staff. J encourage you to contact anyone who may interact with ottr office. We take great pride in being responsive to any request, as well as to be fair and understanding when dealing with property owners. We do our best to explain our process with comparable sales and assessments. Taxpayers are often thankful for the consideration given to their concerns by our staff, whether that results in a change in assessment or not. In the past, I have done presentations for the Iowa City Area Association of Realtors, Greater Iowa City Area Apartment Association, Skogman Realtors, and the Iowa City Downtown District. These engagements have provided me the opportunity to educate the public on the assessment process, as well as to receive good feedback. Review previous goals and objectives: 1. Staffing —3 openings. Determine deputy or 2 appraisers, job duties, etc. hired a deputy assessor who has commercial experience, as well as significant assessor's office experience. Also hired 2 entry level appraisers to continue our in-house appraisal. 2. Finish manual conversion and apply new values. Manual conversion is complete and new values arc still being fine-tuned until the March 2023 mailing of new assessments. 3. Mail income and expense requests in the spring. Income and expense request., were mailed in May 2022 and data was entered in summer and fall. 4. Include an appraiser on commercial inspections/analysis. The newly hired deputy has been accompanying me on commercial inspections and will continue to be involved in the commercial assessments. 5. Analyze land values for all classes of property and revalue as needed for the 2023 assessment. Currently in the process of making any needed land value changes. This will be completed in February 2023. 6. Assign in-house appraisal to multiple appraisers in order to increase the number of properties visited annually. Increased numbers may not be reflected this year due to new hires getting up to speed. The 2 new appraisers have been assigned to the in-house appraisal. They started in late July and have visited 955 properties as of December 31, 2022. Other goals: List goals, objectives and areas of concern for the coming year: 1. Continue our in-house appraisal of all single family residential properties in Iowa City with a goal of 1400 properties visited by 1/1/2023. 2. Add duties to the appraiser positions to provide some variety to their responsibilities, for both office efficiency and the individuals' ,yob satisfaction. Previously there was just one revaluation appraiser and they needed to focus on that job alone. Some possible responsibilities include GIS, splits/combines, file reduction, inputting MLS photos in our appraisal software. 3. Continue the training segment during office meetings. Each veteran staff member will present/provide training on a topic. We all have areas that we specialize in and this will allow some cross training for staff. One of my topics will be to share information on the income approach and how we are using it in our valuations. 4. Reduce hard copy files in our office and determine what documents should be scanned to File Nexus. We have numerous file cabinets holding information that is outdated and no longer necessary. The urgency of this depends on the Johnson County Admin Building remodel and if our office will relocate. 5. Take some continuing education tested hours. Currently behind schedule on my 6 year term. Course 400 -- Assessment Administration and USPAP are both expected to be offered in Iowa during the year. Employee Comments pertaining to this review: Signed: Conference Board Evaluation Committee Iowa City School Board 2 Johnson County Supervisor Date: r z3 ******g****************:*********************r*s***************************** } 1- N a. o_ UJ N< } N w g e W S Q W e M N N >- } Cg N Q N } N d' O N Q } O N O JQ N } r Q 0o JQ N 5 - co OD Q P J Q cC r Q N Q Ch Q r N >- N N CC< o J O < N JURISDICTION 0 0 0 0) O 0) O r N' O 0)p O CV M CV 0 0 0) 0 0 (D O 0 CO 0 M CO O ti 0) R M O (.00 O O O N (A O m CO Of CO O 4) r co O O O 0 N N N N cci id N N N O O a- N- 0 O 0)^(0(0 0) 0 0 N n 0 a n ,'�, D e e- e o 0 ( 0 2,3 c 0 co co m (00) o ti°as ta (0 ( 1 O C � N d• N O (00. CO N M r 01 07 r r r (D Or g g a0 CO C4T 0 0 0 0 o a o 0 F' 0 0 0 0 0 0 0 0 0 1) v r- N c0 (oO CD I,- N. CO (D 4') O co 0 r T r o D1 a CO r 01 .4 R O O CO. 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O [�] 0. Or CO coMill C CO N CO (00 0 (D CO r OD O 0 0 0 6 V N N M d• O C6 N° O r O Oa) T CI W OLC) O Q1 01 O O co 4l'i] I- O O Q 00 CO 0 CV R 0) Q (O 0 CO 0 0 N 0 0 CO 0 0 CD N M 0 11 O) OCQ' CO 4- O CO O 0 CO 0 0 00 M O I- co c0 N V• N 01 CD CD O N 0 d' O (0 M 0) M 4 4- O 00 O) M (V N M (O CD O (D N I- 0) CO CO I- r (O (!) CO CO (.- cr. CD Or CO (0 CO V CO CO M JOHNSON Lu 0 a CEDAR RAPIDS DAVENPORT Z Z J SIOUX CITY W Q O < 0 N CLINTON CO WOODBURY DUBUQUE CITY BLACKHAWK BOONE MUSCATINE DUBUQUE COUNTY FRANKLIN 121,370 126, 225 110,000 116,983 2001-02JOHNSON AND IOWA CITY HAD NEW ASSESSORS STARTING WITH A SIMILAR RATE Or W } 0) W 00 2 )y 2N W W LI.ce Q01 0 V) ei 0: .-1 O 2 N Q W W Q S H (^ Z 0 O O UW COI Z Q } r u < O Z m o z 0 Q V O Z Z 0 0 en z N O N z 0 U COMPARISON OF OFFICES Ti W• m Q Q X C V • g Commercial N N O N 0 V CD -4 C O d N v1 0 C 0 O Q CU • CU Q a 0 (0 O. O w- 0. 0 W 0) 0 Q E W Jurisdiction m N 0 W N (x0 H CO 00 fA JURISDICTION N O C 0 CO O 0) CsJ 1'. 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CO NO N 00 O N 0 C) r • 0 O O 1 C h O CO m 00 N([�'41 N 0) CO CO h O n OD N r r N N r N r r r r r r' O (0 0 69 CO 69 69 69 69 69 CO 69 CO 69 69 69 69 64 co co 69 69 01) CO N r O N t` 0 Cr O O (0 0 _O M O f• O 0) f0+ O0 03 m O C C C (Oo C 01 M V CO 10 0C) C M C C N C CIn CV LC/ CV 6) O N CA 69 69 69 CO (A 69 69 69 69 H 0 09 69 69 69 (A 00 CA 69 O N N 69 POLK COUNTY CO 0) 0 0 CO Nn N CO _r O N 0 C) d C_ r- h C•) 0 0) 0 0 CO �t M CO 0 0) 0 0 0') r N CV O N CV N C) N 0 If') N-00 CO CO 0 a O O N C 09 O C) 6 V' 69 6 00 03 69 6A 69 6A 69 E9 rfl 69 h. b? 69 V3 H3 N_ 0 (•) 10 N N N 0 N n 0 ID O 0 Q f` 10 0 SIOUX CITY CLINTON CO WOODBURY DUBUQUE CITY BLACKHAWK W z 0 0 m MUSCATINE DUBUQUE CO. z Y re re N g 44) O Z 0 J_ a Cn O Z N 0 J !i1 (0 z c ua z IOWA CITY ASSESSOR'S OFFICE HAS HAD THE LOWEST RESIDENTIAL COD IN THE STATE FOR 9 CONSECUTIVE YEARS. TAXES BUDGETED FOR THE OFFICE DIVIDED BY 2021 POPULATION SHOWS IOWA CITY AT THE 5TH LOWEST AMOUNT. A * INDICATES THAT THE JURISDICTION DID NOT COMPLETE THE SALES RATIO SURVEY POPULATION NUMBERS ARE BASED ON 2021 ESTIMATES FROM WWW.CENSUS.GOV BOARDS, COMMISSIONS, AND COUNCILS IN JOHNSON COUNTY, IOWA - APPLICATION FORM PLEASE COMPLETE AND RETURN TO THE BOARD OF SUPERVISORS OFFICE VIA EMAIL ATTACHMENT TO: APPLICATIONS a@CO.JOHNSON.IA.US OR BY MAIL TO: JOHNSON COUNTY BOARD OF SUPERVISORS 913 SOUTH DUBUQUE STREET, IOWA CITY, IOWA 52240 HOW DID YOU HEAR ABOUT THIS VACANCY? (CHECK ALL THAT APPLY) ❑By visiting www.jahnson-county.com iiRadio/newspaper/onllne news media Ward of mouth/social media vCther: please describe Visit www.johnson-county.com/boardsandcommissions for information on all of our boards and commissions, First and Last Name l�-1•.. _'��_... Street Address 6;l5 60v City, State & Zip Code�� Phone Number (this will be available to the public on the County webpago) 3� q-:53/-4‘73 Identify as which gender (check one): X Male ©' Female 0 Other I Email Address f rj4Ii j/A4 .0 >* (� Com Gender balance: lowa Code Section 69.16A requires gender balance an County boards and commissions required or governed by state law, unless the County has made a good faith effort for a minimum of three months to appoint a qualified person. The Johnson County Board of Supervisors extends this requirement to apply to all appointees of the Board of Supervisors regardless of whether the board or commission is required by state law, Eligible Elector: Some boards and commissions require you to be an "eligible elector," defined In Iowa Code Section 39.3 as "a person who possesses all of the qualifications necessary to entitle the person to be registered to vote (in Johnson County], whether or not the person is in fact so registered." Please refer to the vacancy press release et http://www,Johnson-county.cornlvacanctes to confirm whether appointees are required to possess eligible elector status. If the vacancy press release makes no mention, then this requirement does not apply. 1. Which board, commission, or council are you applying for? Please be specific by using the full name of the intended group. You may apply to more than one, however, please •omplete a separate application for each. Have youRttended any meetings of the board/commission to whichyou wish appointment? CI Yes K No , 5 4►—Cal.n{7 if'? *ME etfe ' Of t',/) A-SSe$ sac /2c f . 2. Place of employment, skills, training, experiences, andlor activities (such as hobbies, volunteer work, etc.) that may qualify you for this position and enhance your contributions to the group. ,+�al7 7peer' 3-2.44.1.5a7 Cc n , , d 7pi- 1 l.ie i 1T ltep' �' ' , ` ,TA>ii isarl rekc -t/ .A 5 essklJif, . /-416/ � '' r Z�Arrss 7K v�_wt�P-,5 Cv►v' f, s, r j d H 2 r� li - dr l Irl ;53207/',I E'nf fiq 7 ri Aetv-le8o O l c -Cs r fceas fel 3. How much time you will bq willing to devote to this boardicommission: 145 4. Your reason for applying:�� $01 S 1eGe5 �'S Iv tor35ur � � tAc .S Af7SOn CvNr+ 3o DF jr * f-hG ,F 5 MCOM� fan S i /] � �� -07C. e ueirt F 5. Contributions you can make to this board/commission: .n D� r t 4p /Iv. pDr rt r 1r, d 'l 11"ion: ` S i t f G� I►'[�► ibei Ot�� ed, rtr5�/O 0e1015. s. In lieu of/in addition to the above, what comments can you add that may assist the Board of Supervisors in its selection? i f,`/ `AA 7 1 61/e �° /i7 etk.�rck`� e.ry�v,/ . cJCc r uryi fLd6 COMA &IA /ni S- 7. CONFLICTS OF INTEREST: Please identify any potential conflicts between your service an this board/commission and your personal interests, including financial interests and duties to an employer. Iowa Code SecCon 331.342 states "an officer aremployee of a county shall not have an interest, direct or indirect, in a contract with that county." When applying, please keep in mind the Johnson County Policy on Attendance on County Boards and Commissions: "The Board considers regular attendance at meetings an integral part of one's service on a Board or Commission. While it is not uncommon for someone to miss• an occasional meeting, absences should be avoided as they can impair the work done by the Board or Commission on behalf of the public. Additionally, prolonged absences may be grounds for removal from the Board or Commission under the Iowa Code." YOUR APPLICATION WILL BE RETAINED IN OUR FILES FOR ONE YEAR. THIS APPLICATION IS A PUBLIC DOCUMENT AND AS SUCH CAN BE REPRODUCED AND DISTRIBUTED FOR THE PUBLIC. THANK YOU FOR COMPLETING THIS APPLICATION FORM AND FOR YOUR INTEREST IN VOLUNTEERING. 913 SOUTH DUBUQUE STREET ♦ IOWA CITY, IA 52240 ♦ 319.356.6000 PHONE ♦ 319.356.6036 FAX www.JOHNSON-COUNTY.com • ]ohnsoncountyia.lgm2.com (2) IOWA CITY ASSESSOR'S OFFICE 2022 ANNUAL REPORT IOWA CITY ASSESSOR bcomer(u; johnsoncounty iowa. gov IOWA CITY ASSESSOR 01/01/2023 Iowa City Assessor's Office 2022 Annual Report Contents 2022-2023 IOWA CITY CONFERENCE BOARD 2 IOWA CITY CITY COUNCIL 2 IOWA CITY COMMUNITY SCHOOL BOARD 2 JOHNSON COUNTY BOARD OF SUPERVISORS 2 IOWA DEPARTMENT OF REVENUE AND FINANCE 2 OTHER BOARDS AND SUPPORT STAFF 3 IOWA CITY ASSESSOR'S OFFICE STAFF 3 IOWA CITY BOARD OF REVIEW 3 IOWA CITY EXAMINING BOARD 3 LEGAL COUNSEL 3 ANNUAL REPORT 4 MISSION STATEMENT 4 GOALS 4 OBJECTIVES 4 VALUATIONS 5 COURT CASES 5 PROPERTY ASSESSMENT APPEAL BOARD 5 BOARD OF REVIEW 5 EQUITY VERSUS MARKET IN ASSESSMENT 6 WEB PAGE 6 ROLLBACKS 6 NEW LEGISLATION 7 CONTINUING EDUCATION 8 ASSESSMENT DATA 9 2022 ABSTRACT OF ASSESSMENTS FOR IOWA CITY 9 EXEMPT PROPERTY IN IOWA CITY FOR 2022 9 VALUE COMPARISONS WITH ROLLBACKS APPLIED 10 COMPARISON OF RESIDENTIAL, COMMERCIAL AND INDUSTRIAL VALUES TO TOTAL ASSESSED AND TOTAL TAXABLE VALUE 12 2021 TOP REAL ESTATE TAXPAYERS 13 COMPARISON OF TAX RATES TO CITIES WITH A CITY ASSESSOR 14 PERFORMANCE MEASUREMENTS 14 RESIDENTIAL SALES STATISTICAL ANALYSIS 14 COMMERCIAL SALES STATISTICAL ANALYSIS 16 HISTORICAL COMMERCIAL SALES STATISTICS 16 MULTIRESIDENTIAL SALES STATISTICAL ANALYSIS 17 HISTORICAL MULTIRESIDENTIAL SALES STATISTICS 17 1 Iowa City Assessor's Office 2022 Annual Report 2022-2023 IOWA CITY CONFERENCE BOARD IOWA CITY CITY COUNCIL 2023 Council Bruce Teague, Mayor Megan Alter, Mayor Pro Tem Laura Bergus Shawn Harmsen Pauline Taylor John Thomas Andrew Dunn IOWA CITY COMMUNITY SCHOOL BOARD 2022-23 School Board Ruthina Malone, President Lisa Williams, Vice President J.P. Claussen *Charlie Eastham *Maks Pilcher Hayek Molly Abraham Jayne Finch *Conference Board Designee 2022 Council Bruce Teague, Mayor Megan Alter, Mayor Pro Tem Laura Bergus Shawn Harmsen Pauline Taylor John Thomas Janice Weiner 2021-22 School Board Shawn Eyestone, President *Ruthina Malone, Vice President J.P. Claussen *Charlie Eastham Jayne Finch Maka Pilcher Hayek Lisa Williams JOHNSON COUNTY BOARD OF SUPERVISORS 2023 Board Lisa Green -Douglass, Chairperson Rod Sullivan, Vice chairperson V Fixmer-Oraiz Royceann Porter Jon Green 2022 Board Royceann Porter, Chairperson Lisa Green -Douglass, Vice Chairperson Jon Green Pat Heiden Rod Sullivan IOWA DEPARTMENT OF REVENUE AND FINANCE Kraig Paulsen — Director, Iowa Department of Revenue and Finance 2 Iowa City Assessor's Office 2022 Annual Report OTHER BOARDS AND SUPPORT STAFF IOWA CITY ASSESSOR'S OFFICE STAFF Brad Comer — Iowa City Assessor Marty Burkle — Chief Deputy Assessor Tony Stammler — Deputy Assessor Mark Fedler — Appraiser/Clerk Diane Hagarty — Accounting Clerk KJ Dennis — Appraiser Andy Dorale — Appraiser Date of Employment: 14 Jan, 2002 Appointed 2015 thru 2019 (remainder of prior assessor's appointment) Re -appointed: 2020 thru 2025 Date of Employment: 01 Feb, 2006 Hired as Chief Deputy 9 Mar, 2015 Date of Employment: 01 Apr, 2022 Date of Employment: 20 Jun, 1994 Date of Employment: 16 Feb, 1998 Date of Employment: 25 Jul, 2022 Date of Employment: 25 Jul, 2022 IOWA CITY BOARD OF REVIEW Ernie Galer Appointed 2018 through 2023 Mark Seabold — appointed 2022 to finish term Term 2019 through 2024 Ryan O'Leary Appointed 2020 through 2025 Sara Meierotto Appointed 2022 through 2027 Phoebe Martin Appointed 2021 through 2026 IOWA CITY EXAMINING BOARD Karin Franklin for Iowa City Mike Kennedy for Johnson County Chace Ramey for Iowa City Schools Appointed 2018 through 2023 Appointed 2017 through 2022 Appointed 2019 through 2024 LEGAL COUNSEL Eric Goers — City Attorney Jennifer Schwickerath — Assistant City Attorney 3 Iowa City Assessor's Office 2022 Annual Report ANNUAL REPORT To: Members of the Iowa City Assessor's Conference Board From: Brad Comer — Iowa City Assessor Subject: 2022 Annual Report — Issued December 31, 2022 The following report covers the activities of this office from January 1, 2022 to date of issue. MISSION STATEMENT The purpose of the Iowa City Assessor's Office is to find, list and value for tax purposes, all real property in Iowa City and maintain records for all parcels in Iowa City. GOALS To establish values according to Iowa law on all commercial, industrial, agricultural, and residential property within the City of Iowa City; to achieve equitable assessments across all classes of property based on actual physical aspects of the property and all pertinent sales data available; to improve the efficiency by which these assessments are made; to provide prompt and courteous response to all inquiries for information. OBJECTIVES 1. Receive calls and inquiries and dispense information efficiently and in a timely manner. 2. Complete all daily record changes and related duties as they are received. 3. On an annual basis, inspect and review all new construction and demolition, and make final review of said construction and demolition by January 1 every year. 4. Notify all new homeowners of potential eligibility for the homestead and military credits by July 1 every year. 5. Remove all homestead exemptions and military credits from the permanent file for those who are no longer eligible to receive the credit by July 1 every year. 6. Efficiently process all other new and routine annual filings, making sure they are in compliance with all laws and rules, and filed by their statutory dates. 7. Send out assessment notices to all properties requiring assessment notices, by April 1st every year. 8. Accept formal written protests for the Board of Review from April 2nd to April 30th, inclusive, every year and coordinate the Board of Review meetings during the month of May. 9. Receive and review tentative equalization orders from the State Department of Revenue and Finance in August of reassessment years. 10. Receive final equalization orders by October 1 of reassessment years. 11.Accept formal written protests for the Board of Review Special Session from October 9 thru October 31 inclusive of reassessment year and coordinate the Board of Review Special Session from October 10 to November 15 of reassessment years, if needed. 12. Prepare and distribute the annual report by December 31 every year. 13. Hold preliminary Conference Board and public hearings to adopt the annual budget by March 15 every year. 14. Prepare and submit annual abstract to the Department of Revenue & Finance by July 1 every year. 15. Maintain assessment information on website at http:lliowacity.iowaassessors.com and make improvements based on input from the public. The site went online February 15, 2001 and has nearly 3 million hits since that time. 4 Iowa City Assessor's Office 2022 Annual Report 16. Provide online access to application forms for Homestead Credits, Military Exemptions, Charitable Exemptions, and Board of Review petition forms which are available on our Johnson County website at www.johnsoncountviowa.gov 17. Review sales as they occur and compare selling price to assessments. 18. Review selling price/assessment ratios by neighborhood, age, size, building type and other relevant criteria. 19. Make adjustments to assessed value as indicated by the sales review and land value review at least every 2 years. 20. Physically inspect properties with selling price-to-assessment ratios outside acceptable standards. 21. Utilize GIS for quality control of assessment data and analysis of valuation. 22. Update recording information (book & page) on our website for older sales. 23. Maintain in-house re-appraisal of all Commercial properties in Iowa City. 24.Annually inspect/re-appraise 10% of residential properties in Iowa City. 25. Continue to cross-train employees for tasks or skills that are outside their specific job descriptions. VALUATIONS Although 2022 was not a real estate revaluation year, some revaluation occurs each year as part of our ongoing reassessment efforts, especially in residential property. Residential new construction added approximately $57 million and revaluation about $24 million_ Commercial new construction added approximately $8 million and revaluation added about $4 million. There was $3.7 million of Residential 3+ (formerly known as Multi-residential) new construction added and $400 thousand of revaluation. 1039 residential deed sales in 2022 give us a median ratio (assessed value/sale price) of 82.21 % compared to 89.37% for 1192 sales in 2021 at the time of sale. This tells us that the selling prices of homes have increased significantly since last year and the number of sales has decreased since last year. The number of sales above does not include new construction completed during the past year. When including new construction there were 1121 sales. It should be kept in mind that when a jurisdiction is at the State mandated sales ratio level of 100%, a full one-half of home sales will be for less than the assessed value. Sales for Tess than the assessed value tend to result in appeals to the Board of Review. COURT CASES There are two active District Court appeals that were filed in 2019, two that were filed in 2021, and one filed in 2022. The 2019 and 2021 cases are properties where Hy-Vee is either the owner or tenant. The 2022 appeal is for the Hawks Ridge apartment complex. PROPERTY ASSESSMENT APPEAL BOARD Eleven commercial properties appealed to PAAB for 2022. Three have been withdrawn while the rest remain active. There were 22 commercial properties appealed to PAAB for 2021. Nine are still active cases, twelve were withdrawn/dismissed, and one was settled. There are no outstanding appeals prior to 2021 remaining. BOARD OF REVIEW The Board of Review was in session from May 1 through May 11, the day of adjournment. 280 protests were filed, with 7 being upheld and 273 denied. The total value of real estate being protested was $148,332,940. The Board allowed a total reduction of $2,493,970. 5 Iowa City Assessor's Office 2022 Annual Report EQUITY VERSUS MARKET IN ASSESSMENT It is difficult to be both equitable among assessments and in tune with the market. Similar properties do not always sell for similar prices, so the market is not always equitable and sometimes a long way from it. Most assessors would lean toward equity if they could choose between the two. Our first priority is equity since it is not always possible to have every assessment match the selling price. Our statistics show that we are doing a good job in this regard. WEB PAGE The Iowa City Assessor's web page went online during the spring of 2001. Internet availability of comparable sales and comparable assessments has been very helpful to taxpayers concerned about the fairness of their assessments. Links are also provided to the Johnson County Treasurer for tax information and to the Johnson County GIS for online maps and aerial photography. We continue to look for ways to get more of our information accessible online and to increase the ability to query our data. In recent years, historical property record cards were added to our website. All of this has, and continues to reduce traffic at our counter, and free up personnel to focus on our core function of equitable assessment of property. There have been nearly 3 million hits on our web site since it went online. It can be seen at httr://iowacity.iowaassessors.com. We also have an Internet presence through the Johnson County website at www.iohnsoncountviowa.00v . Electronic forms for the Homestead Credit, Military Exemption, Charitable Exemptions, and Board of Review appeals are available to the public on this website. ROLLBACKS The residential rollback will increase from 54.1302%, for the current taxes, to 56.4919% for taxes payable in 2023-2024. The rollback for agricultural property will increase from 89.0412% to 91.6430%. The commercial rollback will stay at 90% for the foreseeable future. Multi -Residential class was eliminated with the 2022 assessment and is now considered residential property. Due to this class change, the rollback will be dropping from 63.75% to the residential rollback of 56.4919%. The Department of Revenue now refers to multi - residential property as Residential 3+ when analyzing sales. 6 Iowa City Assessor's Office 2022 Annual Report NEW LEGISLATION The 2021 Iowa Legislative Session produced multiple property tax law changes. SF 2322 — An act relating to the assessment of fees when a person requests examination and copying of public records. This bill states that public entities must provide public records for a "reasonable cost" and free for requests that take less than 30 minutes to produce. SF 384 — An act allowing counties to enter into agreements to jointly share a county assessor. Allows for counties to enter 28E agreements with another county to share an assessor, chief deputy assessor, and professional and clerical assistants for the assessor. HF 2552 — This is a bill covering a variety of topics relating to Iowa Department of Revenue business. Changes relevant to assessors can be found in Division X and Division Xl. Division X — Equalization Adjustments — This clears up dates and procedures when filing equalization appeals. Division XI — Business Property Tax Credit (BPTC) and Assessment Limitations. This does away with the BPTC application filing, qualifying all commercial parcels and states that the "difference between the actual value of the property as determined by the assessor each year and the assessed value of the property following application of the assessment limitations pursuant to section 441.21, subsection 9, shall be subtracted from the actual value of the property as determined pursuant to section 403.19, section 1." It also states 'for valuations established for the assessment year beginning January 1, 2022, and each assessment year thereafter, the portion of actual value at which each property unit of commercial property shall be assessed shall be the sum of the following: a) an amount equal to the product of the assessment limitation percentage applicable to residential property under subsection 4 for that assessment year multiplied by the actual value of the property that exceeds zero dollars but does not exceed one hundred fifty thousand dollars. b) an amount equal to ninety percent of the actual value of the property for that assessment year that exceeds one hundred fifty thousand dollars). (same language for industrial property). 7 Iowa City Assessor's Office 2022 Annual Report CONTINUING EDUCATION Continuing education is a requirement for the assessor and deputies for re -appointment to their positions. Over a six-year term, assessors must complete one hundred -fifty hours of classroom instruction, including at least ninety hours from courses requiring a test. Deputies must complete ninety hours of classroom instruction, including at least sixty tested hours over their six-year terms. It is also beneficial for other employees to attend classes so they can update their skills and stay current with assessment practices. The Assessor attended the following courses and conferences during 2022: ISAA Annual School of Instruction (Iowa State Association of Assessors) ISAC Annual Conference (Iowa State Association of Counties) 10.25 C.E. Hrs. 7 C.E. Hrs. The Chief Deputy attended the following courses and conferences during 2021: ISAA Annual School of Instruction IICA Summer Seminar and Workshop (Institute of Iowa Certified Assessors) ISAC Spring School of Instruction 10.25 C.E. Hrs. 12.75 C.E. Hrs. (7 Tested) 9.75 C.E. Hrs. The Second Deputy attended the following courses and conferences during 2021: ISAA Annual School of Instruction ISAC Annual Conference IICA Summer Seminar and Workshop 10.25 C.E. Hrs. 7 C.E. Hrs. 12.75 C.E. Hrs (7 Tested) Other staff attended classes and seminars related to operation and maintenance of various third party software utilized by the assessors office. ACKNOWLEDGMENTS My staff and I would like to thank the Conference Board, the Board of Review, the City Attorney and his assistants, and the City Staff along with Johnson County and the Iowa City School Board for their assistance, cooperation and confidence during the past year. I would also like to recognize and thank my staff at this time for their part in establishing and maintaining the professional standards of the office. 8 Iowa City Assessor's Office 2022 Annual Report ASSESSMENT DATA 2022 ABSTRACT OF ASSESSMENTS FOR IOWA CITY Value of Agricultural Land and Structures $1,659,870 Value of Residential Dwellings on Agricultural Realty $819,800 Value of Residential Lots and Buildings $5,440,802,627 Value of Commercial Lots and Buildings $1,124,141,068 Value of Residential 3+ Lots and Buildings $566,530,807 Value of Industrial Lots and Buildings $79,655,130 Actual Value of All Real Estate* $7,213,609,302 *All of the above values are based on the 2022 abstract as reported to the Iowa Department of Revenue on July 11th, 2022. EXEMPT PROPERTY IN IOWA CITY FOR 2022 Religious Institutions $117,014,850 Literary Societies & Educational Institutions $8,525,610 Low Rent Housing $0 Associations of War Veterans $635,896 Charitable and Benevolent Societies $191,542,547 Forest and Fruit Tree $1,371,650 Partial Industrial, Urban Revitalization, Recycling, Mobile Home Storm Shelter, Public TV & New Jobs, Geothermal, Historical, $7,561,287 Transmission Property Sub -Total $326,651,840 University of Iowa (As Reported by U of I as of 4/30/2022) $4,618,338,602 TOTAL EXEMPT $4,944,990,442 9 Iowa City Assessor's Office 2022 Annual Report VALUE COMPARISONS WITH ROLLBACKS APPLIED STATE STATE YEAR ORDER ROLLBACK 2022 TYPE Agricultural Ag Dwelling Residential Commercial Res 3+ Industrial TOTAL 2021* -12% Agricultural Ag Dwelling Residential Commercial Multi -Res Industrial TOTAL 2020 2019* 2018 Agricultural Ag Dwelling Residential Commercial Multi -Res Industrial TOTAL Agricultural Ag Dwelling Residential Commercial Multi -Res Industrial TOTAL Agricultural Ag Dwelling Residential Commercial Multi -Res Industrial TOTAL 2017* -10% Agricultural Ag Dwelling Residential Commercial Multi -Res Industrial TOTAL VALUE 1,659,870 819,800 5,440,802,627 1,124,141, 068 566,530,807 79,655,130 $7,213,609,302 1,584, 260 791,780 5,367,201,161 1,119,996,926 554,802,605 79,499,810 $7,123,876,542 1,738,200 806,690 5,142,332,820 1,119,633,176 549,493,092 80.001.410 $6,894,005,388 1,758,220 806,690 4,997,152,490 1,108,642,407 548,235,541 80,669,700 $6,737,265,048 2,541,960 765,530 4,432,353,660 1,001,176,523 502,245,262 79.351,860 $6,018,434,795 2,949,150 1,019,410 4,280,031,980 966,669,459 482,528,656 74,023,380 $5,807,222,035 10 91.6430 56.4919 56.4919 90.0000 56.4919 90.0000 89.0412 54.1302 54.1302 90.0000 63.7500 90.0000 84.0305 56.4094 56.4094 90.0000 67.5000 90.0000 81.4832 55.0743 55.0743 90.0000 71.2500 90.0000 56.1324 56.9180 56.9180 90.0000 75.0000 90.0000 54.5580 55.6209 55.6209 90.0000 78.7500 90.0000 ADJUSTED VALUE 1,521,155 463,121 3,073,612,779 1,011,726,961 320,044,017 71,689,617 $4,479,057,650 1,410,644 428,592 2,905,276,723 1,007,997,233 353,686,661 71.549,829 $4,340,349,682 1,460,619 455,049 2,900,759,090 1,007,669,858 370,907,837 72,001,269 $4,353,253,722 1,432,654 444,279 2,752,146,754 997,778,166 390,617,823 72.602,730 $4,215,022,406 1,426,863 435,724 2,522,807,056 901,058,871 376,683,947 71,416,674 $3,873,829,135 1,608,997 567,005 2,380,592,307 870,002,513 379, 991, 316 66,621,042 $3,699,383,180 Iowa City Assessor's Office 2022 Annual Report VALUE COMPARISONS WITH ROLLBACKS APPLIED - CONTINUED STATE YEAR ORDER TYPE 2016 Agricultural Ag Dwelling Residential Commercial Multi -Res Industrial TOTAL 2015* 2014 2013* 2012 Agricultural Ag Dwelling Residential Commercial Multi -Res Industrial TOTAL Agricultural Ag Dwelling Residential Commercial Industrial TOTAL Agricultural Ag Dwelling Residential Commercial Industrial TOTAL Agricultural Ag Dwelling Residential Commercial Industrial TOTAL VALUE 3,484,890 1,015,050 4,012,070,900 879,281,368 420,708,451 79,489,600 $5,396,050,259 3,814,000 1,120,840 3,893,910,250 859,076,798 415,794,401 80, 349, 550 $5,254,065,839 3,784,570 1,202, 940 3,616,765,260 1,158,203,990 78,113,470 $4,858,070,230 3,708,350 1,190,610 3,494,886,480 1,160,168,050 80.897.070 $4,740,850,560 2,743,540 1,190,610 3,371,349,260 1,122, 041, 780 78.576,040 $4,575,901,230 STATE ROLLBACK 47.4996 56.9391 56.9391 90.0000 82.5000 90.0000 46.1068 55.6259 55.6259 90.0000 86.2500 90.0000 44.7021 55.7335 55.7335 90.0000 90.0000 43.3997 54.4002 54.4002 95.0000 95.0000 59.9334 52.8166 52.8166 1.000000 1.000000 ADJUSTED VALUE 1,655,309 577,960 2,284,437,062 791,353,231 347,084,472 71,540,640 $3,496,648,674 1,758,513 623,477 2,166,022,622 773,169,118 358,622,670 72,314,595 $3,372,510,995 1,691,782 670,440 2,015,749,866 1,042,383,591 70,302,123 $3,130,797,802 1,609,413 647,694 1,901,225,235 1,102,159,648 76.852.217 $3,082,494,207 1,644,297 628,840 1,780,632,053 1,122,041,780 78.576.040 $2,983,523,010 The adjusted values given are not exact but are meant to give a representation of the growth of Iowa City's tax base. * Reassessment Year 11 Iowa City Assessor's Office 2022 Annual Report Total Assessed Value over time and Year to Year change in Total Assessed Value 5800 5700 $500 C 2 5241 IR 519P 5193 $243 5595 5719 _____ $15S'+ lot, `7 slay 51D7 $11^._ S:D5� ___ 547 � 17 s$Si $51 $62 j $57 ' $45 w i Y ♦ 4 5211 New Value Sa 1 �_ _ 5157 R - St4 1 S`0 -Total 1.11 anse In ChValv ® (MOIiore1s) ✓ ✓� J 9J✓ 'fl,� �J.7 J9,„ 1a99 46 Jc> -k4 "0Y6 144 -6<f•1-'6%,"°4 �O✓9 -00 '0�7 �p�> COMPARISON OF RESIDENTIAL, COMMERCIAL AND INDUSTRIAL VALUES TO TOTAL ASSESSED AND TOTAL TAXABLE VALUE Year 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 Residential 5,440,802.627 5,367,992,941 5,143,139,510 4,998,894.480 4,433,119,190 4.281,051,390 4,013.085,950 3,895,031,090 3,617,968.200 3.496.077.090 3,073,612.779 2,905,705.315 2,901,214,139 2,752,591,033 2,523,242,780 2,381,159.312 2,285,015,022 2,166.646.099 2,016,420,307 1,901,872,929 75.4 75.4 74.6 74.2 73.7 73.7 74.4 74.1 74.5 73.7 68.6 66.9 66.6 65.3 65.1 64.4 65.3 64.2 64.4 61.7 Commercial 1,124,141,068 1,119,996,926 1,119,633,176 1,108,642,407 1,001,176,523 966,669,459 879,281,368 859,076, 798 1,158,203,990 1,160,168,050 1,011,726,961 1.007,997,233 1,007,669,858 997,778,166 901,058,871 870,002,513 791,353,231 773.169,118 1,042,383,591 1,102,159,648 ASSESSED VALUES Multi -Res / Res 3+ 15.6 566,530,807 15.7 554,802,605 16.2 549,493,092 16.5 548,235,541 16.6 502,245,262 16.6 482,528,656 16,3 420,708,451 16.3 415,794,401 23.8 24.5 TAXABLE VALUES 22.6 320,044,017 23,2 353,686,661 23.1 370, 907, 837 23.7 390,617,823 23.3 376,683,947 23.5 379,991,316 22.6 347,084,472 22.9 358,622,670 33.3 NA 35.7 NA 7.9 7.8 8.0 8.1 8.3 8.3 7.8 7.9 NA NA 7.1 8.1 8.5 9.3 9.7 10.3 9.9 10.6 Industrial 79,655,130 79,499,810 80,001,410 80,669,700 79,351,860 74,023,380 79,489,600 80,349,550 78,113,470 80,897,070 71,689,617 71,549,829 72,001,269 72,602,730 71,416,674 66,621,042 71, 540, 640 72,314,595 70,302,123 76,852,217 1,1 1.1 1.2 1,2 1.3 1.3 1.5 1.5 1.6 1.7 1.6 1.6 1.7 1.7 1,8 1.8 2.1 2.2 2.2 2.5 Percentage of Taxable and Assessed Value - Past 17 Years 12 AG 1,659,870 1,584,260 1,738,200 1,758,220 2,541,960 2,949,150 3,484,890 3,814,000 3,784,570 3,708,350 1,521,155 1,410,644 1,460,619 1,432,654 1,426,863 1,608,997 1,655,309 1,758,513 1,691,782 1,609,413 .02 <0.03 <0.03 <0.03 <0.05 <0.1 <0.1 0.1 0.1 0.1 .03 <0.04 <0.04 <0.04 <0.04 <0.05 <0.1 0.1 0.1 0.1 Iowa City Assessor's Office 2022 Annual Report Percentage of Total Value 80% 75% 70% 65% 60% 55% 50% 45% 40% 35% 30% 25% 20% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 K. • Residential Assessed ••-+•• Commercial, Multi -Res, & Industrial Assessed --• & Residential Taxable f Commercial, Multi -Res, & Industrial Taxable Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 2021 TOP REAL ESTATE TAXPAYERS (Excluding Utilities & Credit Unions Assessed by the State) 2021 Assessed Value $55, 376,050 $50,708,760 $28,021,298 $26,708,390 $43,517,480 $37,096,660 $24,830,810 $22.503;280 $19,866,000 $18,678,270 $18,393,220 $29,003,330 Contract or Title holder RISE AT RIVERFRONT CROSSING OWNER LLC BBCS-HAWKEYE HOUSING LLC ACT INC MIDWESTONE BANK TAILWIND IOWA CITY, LLC 1201 GILBERT, LLC HOLLINGSWORTH CAPITAL PARTNERS -IOWA, LLC DEALER PROPERTIES IC LLC GRADUATE IOWA CITY OWNER. LLC PROCTER & GAMBLE HAIR CARE LLC _. NATIONAL COMPUTER SYSTEMS INC WEBBER-IOWA LLC VESPER IOWA CITY LLC IOWA CITY HOTEL ASSOCIATES LLC AUGUSTA PLACE LLC FSC HEALTHCARE IV DST ALPLA INC CHAUNCEY LLC (THE) HIERONYMUS SQUARE DEVELOPERS LLC MENARD INC IOWA CITY LEASED HOUSING ASSOCIATES III LLLP MCLAUGHLIN, MICHAEL T DUBUQUE & PRENTISS INVESTMENTS LC OC GROUP LC RIVERFRONT CROSSING HOSPITALITY OWNER i [.0 $28,918,140 $15,273,860 $25,248,700 $15,377,570 5-15,235,330 $16.113.010 $15,622,590 513, 699, 440 $13,386,650 $21,759.000 $20,951,710 511,919,530 $12,316,650 # of Actual Parcels 2021 Taxes 332 $1,146,872 522 $1,050,048 14 $953,704 6 $935,128 352 $901,148 231 $850,048 3 $849,318 4 $769,174 1 $716,816 3 $640,308 2 $630,494 120 $600,664 201 $598,938 1 $550,428 123 $532,526 1 $526,656 2 $521,758 64 $508.684 23 $486,876 1 I $468,872 2 1 $460,944 77 $457,004 128 $434,332 2 $428,892 1 $424,100 * if MidAmerican Energy were included, it would rank 1ST with $1,545,811 Taxes Billed. 13 #-_ "Ft ...1'...}...4....I-...{.•,•4... 4.....}.....-...,,.•-I-•• 4..•4..,.‘ 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 K. • Residential Assessed ••-+•• Commercial, Multi -Res, & Industrial Assessed --• & Residential Taxable f Commercial, Multi -Res, & Industrial Taxable Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 2021 TOP REAL ESTATE TAXPAYERS (Excluding Utilities & Credit Unions Assessed by the State) 2021 Assessed Value $55, 376,050 $50,708,760 $28,021,298 $26,708,390 $43,517,480 $37,096,660 $24,830,810 $22.503;280 $19,866,000 $18,678,270 $18,393,220 $29,003,330 Contract or Title holder RISE AT RIVERFRONT CROSSING OWNER LLC BBCS-HAWKEYE HOUSING LLC ACT INC MIDWESTONE BANK TAILWIND IOWA CITY, LLC 1201 GILBERT, LLC HOLLINGSWORTH CAPITAL PARTNERS -IOWA, LLC DEALER PROPERTIES IC LLC GRADUATE IOWA CITY OWNER. LLC PROCTER & GAMBLE HAIR CARE LLC _. NATIONAL COMPUTER SYSTEMS INC WEBBER-IOWA LLC VESPER IOWA CITY LLC IOWA CITY HOTEL ASSOCIATES LLC AUGUSTA PLACE LLC FSC HEALTHCARE IV DST ALPLA INC CHAUNCEY LLC (THE) HIERONYMUS SQUARE DEVELOPERS LLC MENARD INC IOWA CITY LEASED HOUSING ASSOCIATES III LLLP MCLAUGHLIN, MICHAEL T DUBUQUE & PRENTISS INVESTMENTS LC OC GROUP LC RIVERFRONT CROSSING HOSPITALITY OWNER i [.0 $28,918,140 $15,273,860 $25,248,700 $15,377,570 5-15,235,330 $16.113.010 $15,622,590 513, 699, 440 $13,386,650 $21,759.000 $20,951,710 511,919,530 $12,316,650 # of Actual Parcels 2021 Taxes 332 $1,146,872 522 $1,050,048 14 $953,704 6 $935,128 352 $901,148 231 $850,048 3 $849,318 4 $769,174 1 $716,816 3 $640,308 2 $630,494 120 $600,664 201 $598,938 1 $550,428 123 $532,526 1 $526,656 2 $521,758 64 $508.684 23 $486,876 1 I $468,872 2 1 $460,944 77 $457,004 128 $434,332 2 $428,892 1 $424,100 * if MidAmerican Energy were included, it would rank 1ST with $1,545,811 Taxes Billed. 13 COMPARISON OF TAX RATES TO (Sorted by Assessor 20-21 21-22 City IOWA CITY CEDAR RAPIDS DUBUQUE DAVENPORT AMES SIOUX CITY MASON CITY Assessor Levy .25979 .27311 .24949 .26758 .34504 .38116 .45811 Assessor Levy .25664 .23947 .26903 .26312 .45640 .38120 .38331 Iowa City Assessor's Office 2022 Annual Report CITIES WITH A CITY ASSESSOR levy - Low to High) 21-22 22-23 Total Levy Total Levy 22-23 Assessor Levy .23571 .26969 .27763 .30404 .33790 .35920 .49063 38.33084 38.25897 39.11412 38.27023 31.70847 30.55266 39.37037 39.64283 31.18672 30.70114 35.52165 36.41581 38.43126 38.01889 PERFORMANCE MEASUREMENTS The median sales ratio (median) is the middle sales ratio and a measure of the percent of our assessment to the actual sales prices. The coefficient of dispersion (C.O.D.) is a measure of assessment uniformity based on the degree to which individual sales ratios vary from the median sales ratio. The goal of the Iowa City Assessor is to keep this C.O.D. below 10. A C.O.D. of 10 is considered excellent. The Iowa Department of Revenue has provided the statistics in the past. They did not provide the 2021 statewide statistics. The statewide numbers below were compiled through a survey of all assessors in Iowa. There was not 100% participation, so these should be considered unofficial results. RESIDENTIAL SALES STATISTICAL ANALYSIS The following statistics are for Residential sales, and below are tables of the ranking of Iowa City in comparison to the other 106 assessing jurisdictions in Iowa. For brevity, only the top 10 are shown. Data is for 2021 sales which is the last complete year available. These tables show that Iowa City is still one of only a few jurisdictions in Iowa with a C.O.D of less than 10. Iowa City also has a large number of sales as could be expected by its size and mobile population. Rank 1 2 3 4 5 6 7 8 9 10 Jurisdiction IOWA CITY JOHNSON DALLAS AMES BREMER LINN SCOTT MITCHELL MUSCATINE DUBUQUE (CITY) SORTED BY COD Mean Median Weighted 89.46% 89.36% 88.29% 89.79% 89.77% 88.78% 88.77% 88.26% 87.22% 85.04% 85.59% 83.61% 89.40% 89.88% 88.18% 88.23% 85.97% 85.65% 89.70% 88.14% 88.01% 87.26% 86.88% 85.40% 92.10% 92,01% 90.88% 87.77% 85,76% 86.00% 14 COD 8.74% 9.93% 10.38% 11.43% 11.78% 12.32% 12.50% 12.60% 13.37% 13.74% PRD /01% 101% 102% 102% 101% 103% 102% 102% 101% 102% PRD 141% 101% 101% 101% 101% 102% 102% 102% 102% 102% 102% 103% 103% 103% Iowa City Assessor's Office 2022 Annual Report The Regression Index, also known as the Price Related Differential (PRD), is an indicator of the degree to which high value properties are over or under assessed in relationship to low value properties. An index of 100 indicates no difference in assessments of high value properties in comparison to low value properties based upon that year's sales. An index over 100 indicates that high value properties are under assessed in relation to low value properties. As you can see in the following table, Iowa City's regression index is still close to the ideal 100 level. For brevity, only the top 14 are shown. SORTED BY REGRESSION INDEX (URBAN RESIDENTIAL) Rank Jurisdiction Mean Median Weighted C 0 D 1 IOWA CITY 89.46% 89.36% 88.29% 8.74% 2 JOHNSON 89.79% 89.77% 88.78% 9.93% 3 BREMER 89.40% 89.88% 88.18% 11.78% 4 MUSCATINE 92.10% 92.01% 90.88% 13.37% 5 STORY 87.94% 86.96% 86.81% 14.48% 6 DALLAS 88.77% 88.26% 87.22% 10.38% 7 AMES 85.04% 85.59% 83.61% 11.43% 8 SCOTT 89.70% 88.14% 88.01% 12.50% 9 MITCHELL 87.26% 86.88% 85.40% 12.80% 10 DUBUQUE (CITY) 87.77% 85.76% 86.00% 13.74% 11 DUBUQUE (COUNTY) 86.96% 85.72% 8S.46% 15.12% 12 LINN 88.23% 85.97% 85.65% 12.32% 13 CEDAR RAPIDS 90.10% 86.43% 87.12% 13.93% 14 CHICKASAW 91.46% 90.46% 88.88% 17.34% Below is a over time. Estimate tabulation of year by year sales statistics for Iowa City Residential Property Year Median #2022 82.21 #2021 89.37 #2020 93.26 #2019 95.22 #2018 88.73 #2017 91.35 2016 92.44 *2015 94.20 2014 92.62 *2013 95.18 2012 96.55 *2011 97.57 2010 95.92 *2009 95.42 2008 95.92 *2007 95 2006 88.70 *2005 90.50 2004 84.50 *2003 88.30 2002 94.32 *2001 94.60 2000 89 C.O.D 10.07 8.76 7.89 6.87 7.84 7.60 7.69 7.30 7.49 6.72 8.02 7.32 9.99 8.29 7.92 7.88 9.67 8.61 9.57 7.93 8.03 7.83 9.16 # Of Sales 1121 1192 1050 1034 1020 1069 1064 999 974 937 826 740 745 796 833 856 665 717 751 809 777 682 675 Average Sale Price 306,327 292,726 273,210 275,980 266,715 246,289 224,879 219,886 209,633 204,632 195,585 191,701 182,635 191,459 188,873 192,294 197,878 186,437 176,136 159,766 152,219 144,912 137,725 Total Price 343,392,567 348,929,392 286,870,500 285,363,320 272,049,300 263,282,941 239,271,256 219,666,114 204,182, 923 191, 740,184 161,553,210 141,858,740 136,062,994 152,401,156 157, 331,213 164,603,799 131,588,850 133,675,410 132,277,978 129,250,592 118,274,003 98,830,294 92,964,467 * All odd numbered years are re -Assessment year # - Starting in 2017 avg sale price includes new construction. Previously did not include new construction. 15 Iowa City Assessor's Office 2022 Annual Report COMMERCIAL SALES STATISTICAL ANALYSIS The Coefficient of Dispersion for Commercial properties varies from 14.11 to 68.49 with a median of 29.51 for all Iowa jurisdictions while Residential C.O.D.'s vary from 8.74 to 47.63 with a median of 22.65. Commercial properties are typically more difficult to appraise than residential properties because of the wide variety of building types and fewer comparable sales. For this reason, only jurisdictions with at least 10 sales are included in table below. COMMERCIAL SALES SORTED BY C 0 D (2021 Sales Analysis) COD PRD 15.26% 16.75% 17.60% 18.36% 18.92% 20.92% 20.97% 2L36% 22.47% 22.98% 23.03% 23.38% 24.08% 2427% 25.23% 25.40% 26.36% 26.71% 27.16% 27.49% No Jurisdiction 1 IOWA CITY 2 MONTGOMERY 3 DICKINSON 4 JOHNSON 5 SCOTT 6 BREMER 7 MITCHELL 8 DUBUQUE COUNTY 9 WINNESH1EK 10 MUSCATINE 11 CRAWFORD 12 LINN 13 DUBUQUE CITY 14 CLAY 15 OSCEOLA 16 CERRO GORDO 17 HENRY 18 SHELBY 19 LYON 20 DAVENPORT # of Sales Mean 19 87.43% 17 92.76% 101 90.23% 31 93.03% 42 93.61% 30 74.44% 11 86.54% 22 85.46% 10 106.10% 33 81.23% 11 25 43 22 12 21 12 12 11 59 82.10% 79.82% 84.61% 87.79% 79.17% 88.75% 88.78% 90,92% 98.19% 89.61% Median 88.30% 91.50% 93.45% 94.67% 91.46% 86.63% 90.25% 84.72% 110.48% 80.70% 88.31% 81.17% 79.66% 91.38% 77.40% 96.14% 93.39% 92.70% 92.23% 89.51% 115% 129% 107% 107% 108% 119% 113% 103% 132% 118% 146% 117% 102% 101% 98% 106% 118% 140% 98% 123% HISTORICAL COMMERCIAL SALES STATISTICS Below is a tabulation of year by year sales statistics for Iowa City commercial properties. Because of the small number of sales, one or two bad sales can greatly influence the performance measurements, therefore creating greater fluctuation in the numbers. See data above to illustrate this and to show Iowa City's standing # of # of Year Median C.O.D. Sales Year Median C.O.D. Sales Estimate 2022 82.57 14.29 23 2000 96.85 14.99 28 2021 88.30 15.26 19 1999 87.50 14.14 33 2020 94.90 18.86 11 1998 89.10 11.68 25 2019 91.28 16.87 22 1997 87.80 11.57 21 2018 78.88 14.13 9 1996 89.50 15,78 24 2017 95.25 12.03 6 1995 90.10 12.76 22 2016 92.54 21.77 19 1994 87.90 12.44 24 2015 90.67 13.13 12 1993 90.35 14.24 26 2014 90.82 15.39 12 1992 89.90 14.86 21 2013 92.98 18.15 20 1991 87.85 8.38 8 2012 93,51 12.84 14 1990 89.60 19.53 13 2011 90.83 27.99 18 1989 94.40 13.81 13 2010 97.77 12.82 29 1988 95.40 19.77 20 2009 89.21 13.60 29 1987 87.65 17.27 16 2008 95.29 21.32 36 198.6 98.20 14.21 15 2007 91.80 23.24 35 1985 82 12.63 16 2006 87.55 17.05 26 198.4 76.80 18.30 13 2005 85.65 15.52 34 1983 87.85 10.58 26 2004 80.90 17.82 17 1982 78 10.25 8 2003 89.22 15.08 39 1981 87.55 10.07 14 2002 92.40 16.81 17 1980 80.85 22.69 12 2001 93.50 15.04 23 16 Iowa City Assessor's Office 2022 Annual Report RESIDENTIAL 3+ (FORMERLY MULTIRESIDENTIAL) SALES STATISTICAL ANALYSIS The Coefficient of Dispersion for Multiresidential properties varies from 0.10 to 96.28 with a median of 20.33 for all Iowa jurisdictions. Only jurisdictions with at least 5 sales are included in table below. MULTIRESIDENTIAL SALES SORTED BY C 0 D (2021 Sales Analysis) No Jurisdiction # of Sales Mean Median C O D PRD 1 CASS 5 85.86% 93,51% 8.80% 2 CRAWFORD 6 93.12% 95.63% 10.36% 3 JOHNSON 14 93.40% 97.83% 11.00% 4 BUENA VISTA 15 121.81% 121.41% 12.27% 5 IOWA CITY 12 90.55% 87.86% 13.55% 6 SCOTT 23 94.04% 93.35% 14.01% 7 ALLAMAKEE 6 60.62% 63.70% 14.44% 8 CHEROKEE 6 71.95% 76.04% 15.21% 9 STORY 5 69.23% 67.18% 17.68% 10 LINN 17 85.66% 85.24% 17.92% 11 WORTH 6 72.61% 75.68% 19.69% 12 POLK 126 91.50% 90.10% 19.90% 13 DES MOINES 13 95.60% 93.73% 20.30% 14 MUSCATINE 13 78.32% 80.70% 20.33% 15 BOONE 8 85.45% 82.73% 20.91% 16 CERRO GORDO 7 89.37% 95.71% 20.94% 17 DALLAS 12 98.47% 95.97% 22.67% 18 CEDAR RAPIDS 35 90.92% 84.96% 23.76% 19 JASPER 17 91.95% 84.58% 24.04% 20 DAVENPORT 42 101.72% 96.74% 24.16% 107% 102% 100% 110% 107% 102% 107% 95% 90% 103% 108% 115% 124% 104% 104% 106% 107% 129% 103% 113% HISTORICAL RESIDENTIAL 3+ (FORMERLY MULTIRESIDENTIAL) SALES Below is a tabulation of year by year sales statistics for Iowa City Multiresidential properties, which has been re -labeled as Residential 3+ starting in 2022. Because of the small number of sales, one or two bad sales can greatly influence the performance measurements, therefore creating greater fluctuation in the numbers. See data above to illustrate this and to show Iowa City's standing # of Year Median C.O.D. Sales Estimate 2022 85.56 21.27 14 2021 87.86 13.55 12 2020 100.50 7.75 13 2019 87.90 10.87 7 2018 77.42 9.93 6 2017 80.47 15.87 8 2016 84.69 14.01 9 2015 86.46 14.16 8 17