Assessments will be going up for commercial and multi-residential properties in Delaware County.
The Iowa Department of Revenue has notified the Delaware County Auditor of final percentage adjustments to the 2019 property valuations.
The adjustments include an 18-percent increase on all property classified as Commercial Realty and a 24-percent increase on all property classified as Multi-Residential Realty.
There will be no adjustment for ag land and structures or residential realty.
Assessed values are equalized by the Department of Revenue every two years. Local taxing authorities determine the final tax levies and may reduce property tax rates to compensate for any increase due to equalization.
Taxpayers may protest the final equalization order with their local board of review. Protests are accepted through October 31st at the Delaware County Assessors Office.