ASSESSOR 2015 ANNUAL REPORT.

OFFICE OF POLK COUNTY ASSESSOR 2015 ANNUAL REPORT www.assess.co.polk.ia.us

POLK COUNTY PARCEL COUNT AND ACRE TOTALS EXCLUDING ROADS AND RAILROADS JURISDICTION PARCELS ACRES Alleman 214 1,503 Allen Twp 249 2,920 Altoona 5,939 4,465 Ankeny 20,998 13,036 Beaver Twp 575 13,026 Bloomfield Twp 6 26 Bondurant 1,961 4,729 Camp Twp 1,150 19,424 Carlisle 92 1,897 Clay Twp 566 6,883 JURISDICTION PARCELS ACRES Clive 3,818 2,051 Crocker Twp 1,625 8,023 Delaware 1,850 5,780 Des Moines 74,626 31,106 Douglas Twp 710 17,967 Elkhart 304 935 Elkhart Twp 675 20,898 Four Mile Twp 1,068 5,638 Franklin Twp 868 14,759 Granger 109 82 JURISDICTION PARCELS ACRES Grimes 4,899 5,389 Jefferson Twp 987 9,236 Johnston 7,425 10,408 Lincoln Twp 466 20,319 Madison Twp 138 4,119 Mitchellville 716 1,106 Norwalk 1 6 Pleasant Hill 3,403 4,924 Polk City 1,793 1,929 Runnells 223 210 JURISDICTION PARCELS ACRES Saylor Twp 3,079 6,286 Sheldahl 92 149 Union Twp 281 9,027 Urbandale 12,305 6,649 Washington Twp 486 19,266 Webster Twp 366 537 West Des Moines 15,121 10,475 Windsor Heights 2,102 662 TOTAL 171,286 279,172 TABLE OF CONTENTS Message from the Assessor.............................2 Our Mission and Our Values............................ 4 Polk County Conference Board.......................... 5 Staff of County Assessor s Office, Members of Board of Review and Board of Examiners....................... 6 Abstract of 2015 Assessments.......................... 7 Assessment Roll by Property Classification................. 8 Total Valuation by Class and Taxable Valuation by Class.........9 Property Tax Shift.................................. 10 History of Assessment Rolls........................... 11 Summary of Valuation by Jurisdiction.................... 12 Summary of Parcel Counts by Class and Jurisdiction......... 13 Property Tax Timeline............................... 14 Exempt Property as of July 1, 2015..................... 15 Actions by 2015 Board of Review....................... 16 History of Assessment Protests......................... 17 History of Assessment Appeals......................... 18 Residential Property Sales............................ 19 Residential Property Sales Statistics by City............... 20 POLK COUNTY TAX DISTRICTS 2015 ANNUAL REPORT

2 2015 ANNUAL REPORT OFFICE OF POLK COUNTY ASSESSOR 3 MESSAGE FROM THE ASSESSOR Polk County Conference Board: On behalf of the dedicated women and men of the Polk County Assessor s Office, I am proud to present this year s Annual Report. Last year I reported the real estate market rebounded in 2014 and was showing signs of a strong recovery. Because of that, our assessment-to-market value levels for the various classifications of property fell below the standards required by Iowa law. In order to avoid an equalization order from the Director of Revenue, our office took corrective action by increasing assessments for 2015, bringing our assessment levels into compliance. In doing so, the Polk County assessment roll reached a new milestone in 2015, exceeding 34.4 billion. This represents a 7.1% increase over the 2014 assessment roll, with 4.6% due to revaluation and 2.5% due to new construction. This is the largest increase since 2007. A major change implemented for 2015 involved identifying and reclassifying those properties that fall under the new multiresidential classification (apartments, mobile home parks, manufactured home communities, land-leased communities and assistedliving facilities). For the next seven years, these properties will see their taxable valuations gradually reduced by the rollback, and in year 2022, they will have the same rollback as residential property. We have 1,192 parcels with a total assessed valuation of approximately 1 billion in this category. Another major change implemented for 2015 allows some properties to have dual classification. Any property that has two uses, where the primary use is either commercial or industrial and the other use is human habitation, now has two classifications either commercial or industrial, along with multiresidential. Property taxes will be calculated on the valuations allotted to each of the two classifications and using different rollback percentages that apply to each classification. There were 198 parcels that had dual classification for 2015. As noted in past annual reports, residential property owners continue to take on more and more of the tax burden. The charts on page 10 show an example of A major change implemented for 2015 involved identifying and reclassifying those properties that fall under the new multiresidential classification (apartments, mobile home parks, manufactured home communities, land-leased communities and assisted-living facilities). Last year I reported the real estate market rebounded in 2014 and was showing signs of a strong recovery. Because of that, our assessment-tomarket value levels for the various classifications of property fell below the standards required by Iowa law. how taxes on a residential property in Des Moines assessment after April 1 by entering into a signed would have increased substantially the last seven years written agreement with the property owner. This is in (29.2%) while those on a commercial property in Des addition to the current authority the Assessor has to file Moines would have decreased ( 7.8%). Expect this a recommendation for a change to the Board of Review. trend to continue for many years into the future. In closing, it is important to note this office employs a The number of protests spiked upward with the talented and dedicated group of people that treats all increase in valuations. There were 5,961 protests filed, property owners and taxpayers with the highest degree which is the largest since 2009. Of the protests filed, of courtesy and professionalism, and continually strives approximately 50% were upheld and 50% were to assess every property in a fair and equitable manner. denied. There were 358 appeals of the Board of I am grateful for the opportunity to work with them. Review s decisions, with 336 appeals to the Property It s a privilege and honor to serve Polk County as your Assessment Appeal Board and 22 appeals to the Polk Assessor. Please don t hesitate to contact me if you County District Court. have any questions or concerns, or would like House File 616 changed many of the dates in the additional information. assessment cycle. Going forward, the protest filing Sincerely, period is from April 2 to April 30. Informal appeals with the Assessor are now to be requested from April 2 to April 25. If the protestant and Assessor come to an Randy Ripperger agreement, the Assessor is authorized to change the Polk County Assessor

4 2015 ANNUAL REPORT OFFICE OF POLK COUNTY ASSESSOR 5 OUR MISSION POLK COUNTY CONFERENCE BOARD 2015 Courtesy: Picture Des Moines Appraise all property for tax purposes fairly and equitably by Iowa law. Provide the public with information and service in a complete and courteous manner. Encourage and assist employees in professional growth to help meet organizational objectives and increase individual creativity and confidence in pursuit of personal goals. Operate the office in such a manner that methods and procedures are open to scrutiny and understood by the public. Use resources efficiently and effectively. Be a leader in the field of assessment administration in developing, analyzing, and sharing data with public and private interests. MAYORS Carmella Jones, Alleman J.M. Skip Conkling, Altoona Gary Lorenz, Ankeny Curt Sullivan, Bondurant Ruth Randleman, Carlisle Scott Cirksena, Clive Frank Cownie, Des Moines Brandon Snyder, Elkhart Cathy Fuson, Granger Thomas Armstrong, Grimes Paula Dierenfeld, Johnston Jon Woods, Mitchellville Tom Phillips, Norwalk Sara Kurovski, Pleasant Hill Jason Morse, Polk City Gerald Lane, Runnells Don Towers, Sheldahl BOARD OF SUPERVISORS Robert Brownell Angela Connolly Tom Hockensmith John Mauro Steven Van Oort BOARD OF EDUCATION Todd Shafer, Ankeny Chris Freese, Bondurant-Farrar Jenny Foster, Carlisle Scott Brown, Dallas C.-Grimes Connie Boesen, Des Moines Greg Dockum, Johnston Brett Bruggeman, North Polk Brian Bowman, Saydel Lori Slings, S.E. Polk Graham Giles, Urbandale Dr. Vicky Poole, West Des Moines Derek Petry, Woodward-Granger Bob Andeweg, Urbandale Steven Gaer, West Des Moines OUR VALUES Diana Willits, Windsor Heights Providing the best possible service to our constituents Organizational transparency Integrity Honesty BOARD OF REVIEW COUNTY ASSESSOR EXAMINING BOARD Accountability 10 Member Board Conference Board Three Member Board Commitment to excellence Maintaining the public trust Conference Board Appointment (six years) Appointment Each Conference Board Unit Appoints One Fairness

6 2015 ANNUAL REPORT OFFICE OF POLK COUNTY ASSESSOR 7 STAFF OF POLK COUNTY ASSESSOR S OFFICE MEMBERS OF BOARD OF REVIEW AND BOARD OF EXAMINERS Des Moines, Iowa 2015 Randy Ripperger, CAE, ICA County Assessor ADMINISTRATION Rodney Hervey, ICA Chief Deputy Tammy Berenguel, Support Supervisor Rhonda Duncan, Supervisor Real Estate Department Paul Humble, ICA, RES, AAS, Residential Deputy Assessor Ruth Larsen, Database Administrator Kelly Low, Accounting Manager Mark Patterson, CAE, CCIM, ICA, Commercial Deputy Assessor Amy Rasmussen, ICA, RES, AAS, Director of Litigation Michelle Richards, ICA, Residential Deputy Assessor Bryon Tack, MAI, CAE, ICA, Director/Commercial Deputy Assessor James Willett, ICA, RES, Director/Residential Deputy Assessor APPRAISERS John Catron, Residential Appraiser II Regina Russell, Residential Appraiser II Michael Caulfield, ICA, Commercial Appraiser III Victor Scaglione, Residential Appraiser I Rich Colgrove, Residential Appraiser III Cathy Stevens, ICA, RES, Residential Appraiser III Cary Halfpop, ICA, Commercial Appraiser III Keith Taylor, MPA, RES, ICA, Residential Appraiser III Patrick Harmeyer, ICA, Commercial Appraiser II Brett Tierney, Residential Appraiser I Michelle Henderson, Residential Appraiser II Joe Tursi, Appraiser I Paul O Connell, Residential Appraiser I Patrick Zaimes, ICA, Agricultural Appraiser Bob Powers, ICA, Commercial Appraiser II OFFICE PERSONNEL Caroyle Andrews, Comm. Support Specialist Kelsi Jurik, Mapping Specialist Susie Bauer, Permits Coordinator Jill Mauro, Computer Support Specialist Vincent DeAngelis, Tax Information Specialist Jennifer Sanford, Credits Administrator Kim Heffernan, Support Specialist Julie Van Deest, Exemptions Coordinator BOARD OF REVIEW BOARD OF EXAMINERS Lora Jorgensen Charles Speas Art Hedberg Donna Koester John Tiefenthaler Ned Miller John Lundstrom Leslie Turner Frank Smith Ruth O Brien-German Lee Viggers Everett Sather Max Wright REAL PROPERTY ABSTRACT OF 2015 POLK COUNTY ASSESSMENTS As of July 1, 2015 Includes over 171,000 Parcels of Taxable Property TOWNSHIPS 100% VALUE CITIES Agricultural Lands 246,187,910 58,827,360 Residential (includes residences on ag property) 1,977,945,160 22,506,287,630 Commercial Properties 406,833,260 7,629,524,320 Multiresidential Properties 13,694,460 1,044,947,960 Industrial Properties 98,328,500 487,322,290 TOTAL TAXABLE REAL ESTATE* 2,742,989,290 31,726,909,560 MONEY & CREDITS (100%) 34,469,898,850 Credit Unions (5 mills) 3,287,126 36,342,062 * The value does not include utility property assessed by the Department of Revenue. Any property that has two uses where the primary use is either commercial or industrial, and the other use is human habitation, now has two classifications either commercial or industrial, along with multiresidential. Property taxes will be calculated on the valuations allotted to each of the two classifications and using different rollback percentages that apply to each classification. There were 198 parcels that had dual classification for 2015. Courtesy: Picture Des Moines

8 2015 ANNUAL REPORT OFFICE OF POLK COUNTY ASSESSOR 9 ASSESSMENT ROLL BY PROPERTY CLASSIFICATION TOTAL VALUATION BY CLASS Polk County has more than 171,000 taxable parcels, with nine out of 10 of them being residential properties. These residential parcels comprise 71% of the total assessed value in Polk County. In 2015, the county added 1,706 residential parcels and had a net total gain of 1,840. Overall, the number of parcels increased just over 1% and value increased a little over 7%. As noted on pages 7 8, the 2015 total assessed valuation for Polk County is 34,469,898,850. The chart below shows the distribution of this valuation by class of property. MULTIPLE RESIDENTIAL 1,058,642,420 INDUSTRIAL 585,650,790 AGRICULTURE 305,015,270 PARCEL COUNT 3% 2% 1% Property Classification 2015 % of Total 2014 Difference % Change Residential 154,607 90.3% 152,901 1,706 1.12% Commercial* 9,097 5.3% 10,179-1,082-10.63% COMMERCIAL 8,036,357,580 23% RESIDENTIAL 24,484,232,790 71% Multiresidential* 1,192 0.7% N/A N/A N/A Industrial 629 0.4% 638-9 -1.41% Agricultural 5,761 3.4% 5,728 33 0.58% TOTAL 171,286 100.0% 169,446 1,840 1.09% ASSESSMENT ROLL VALUE Property Classification 2015 % of Total 2014 Difference % Change Residential 24,484,232,790 71.0% 22,962,337,300 1,521,895,490 6.63% Commercial* 8,036,357,580 23.3% 8,373,207,200-336,849,620-4.02% Multiresidential* 1,058,642,420 3.1% N/A N/A N/A Industrial 585,650,790 1.7% 529,465,610 56,185,180 10.61% Agricultural 305,015,270 0.9% 315,183,550-10,168,280-3.23% TOTAL 34,469,898,850 100.0% 32,180,193,660 2,289,705,190 7.12% TAXABLE VALUATION AFTER ROLLBACK BY CLASS The rollback affects how the property tax burden is distributed among the various classes. As shown below, residential properties currently account for 61% of the tax base. Six years ago residential properties accounted for 53% of the tax base. The shifting of the tax burden to residential property owners should continue for many years into the future. * Multiresidential is new for 2015, included with Commercial for 2014. MULTIPLE RESIDENTIAL 913,079,087 INDUSTRIAL 527,085,711 AGRICULTURE 140,632,781 4% 2% 1% In 2015, the county added 1,706 residential parcels and had a net total gain of 1,840. Overall, the number of parcels increased just over 1% and value increased a little over 7%. COMMERCIAL 7,232,721,822 32% *Includes TIF Valuation RESIDENTIAL 13,619,574,848 61%

10 2015 ANNUAL REPORT OFFICE OF POLK COUNTY ASSESSOR 11 PROPERTY TAX SHIFT RESIDENTIAL TAX VS. COMMERCIAL TAX VALUATION YEARS 2007 2014 40 HISTORY OF ASSESSMENT ROLLS AMOUNT OF TAX AMOUNT OF TAX RESIDENTIAL 200,000 ASSESSED VALUE DES MOINES 5,500 5,250 5,000 4,750 4,500 4,250 4,000 3,500 3,000 4,113 4,123 4,248 4,463 4,722 4,954 5,121 5,314 2007 2008 2009 2010 2011 2012 2013 2014 YEAR RESIDENTIAL TAX 2007 2014 +29.2% or +4.2% per year COMMERCIAL 200,000 ASSESSED VALUE DES MOINES 9,500 9,250 9,000 8,750 8,500 8,250 8,000 9,307 9,045 9,056 9,196 9,304 9,379 8,943 8,581 2007 2008 2009 2010 2011 2012 2013 2014 YEAR COMMERCIAL TAX 2007 2014 7.8% or 1.1% per year Assumes assessed value of 200,000 each year Does not include the residential homestead credit (2014 = 231) Does not include the commercial business property tax credit (new for 2014 = 3,004) VALUE IN BILLIONS 35 30 25 20 15 10 5 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 YEAR YEAR TOTAL ASSESSMENT VALUE DOLLAR CHANGE PERCENT CHANGE 2000 17,474,919,820 2,259,336,700 14.8% 2001 19,569,217,090 2,094,297,270 12.0% 2002 20,259,776,100 690,559,010 3.5% 2003 22,739,660,720 2,479,884,620 12.2% 2004 23,533,864,755 794,204,035 3.5% 2005 26,240,913,680 2,707,048,925 11.5% 2006 27,327,216,270 1,086,302,590 4.1% 2007 29,869,657,490 2,542,441,220 9.3% 2008 30,734,701,690 865,044,200 2.9% 2009 31,526,446,890 791,745,200 2.6% 2010 31,989,575,380 463,128,490 1.5% 2011 31,076,876,750 912,698,630 2.9% 2012 31,341,353,890 264,477,140 0.9% 2013 31,511,405,530 170,051,640 0.5% 2014 32,180,193,660 668,788,130 2.1% 2015 34,469,898,850 2,289,705,190 7.1%

12 2015 ANNUAL REPORT OFFICE OF POLK COUNTY ASSESSOR 13 SUMMARY OF VALUATION BY JURISDICTION TOWNSHIPS 2014 2015 % CHANGE PERCENT OF CURRENT ROLL Allen Township 19,696,650 19,104,830-3.0% 0.1% Beaver Township 88,746,260 91,635,270 3.3% 0.3% Bloomfield Township 1,115,620 1,389,000 24.5% 0.0% Camp Township 152,827,990 160,570,260 5.1% 0.5% Clay Township 92,933,890 100,867,970 8.5% 0.3% Crocker Township 356,346,950 375,393,040 5.3% 1.1% Delaware Township 218,975,500 224,567,650 2.6% 0.7% Douglas Township 123,982,460 127,242,190 2.6% 0.4% Elkhart Township 99,772,420 99,692,680 0.1% 0.3% Four mile Township 173,700,210 169,474,480 2.4% 0.5% Franklin Township 138,641,290 143,004,230 3.1% 0.4% Jefferson Township 227,538,710 242,001,310 6.4% 0.7% Lincoln Township 63,987,610 62,561,450 2.2% 0.2% Madison Township 21,886,320 23,223,520 6.1% 0.1% Saylor Township 677,906,400 746,838,170 10.2% 2.2% Union Township 39,322,410 38,416,290 2.3% 0.1% Washington Township 56,530,650 55,650,300 1.6% 0.2% Webster Township 56,595,150 61,356,650 8.4% 0.2% CITIES 2014 2015 % CHANGE PERCENT OF CURRENT ROLL Alleman 33,052,220 34,361,400 4.0% 0.1% Altoona 1,265,625,460 1,453,147,690 14.8% 4.2% Ankeny 4,139,837,250 4,621,090,440 11.6% 13.4% Bondurant 284,404,950 317,524,040 11.6% 0.9% Carlisle 17,548,340 17,897,740 2.0% 0.1% Clive 1,339,094,250 1,403,504,720 4.8% 4.1% Des Moines 10,972,698,230 11,494,545,860 4.8% 33.3% Elkhart 30,041,530 32,584,370 8.5% 0.1% Granger 20,694,090 22,385,920 8.2% 0.1% Grimes 826,474,250 953,205,220 15.3% 2.8% Johnston 1,995,164,770 2,161,113,230 8.3% 6.3% Mitchellville 75,282,510 78,117,390 3.8% 0.2% Norwalk 5,380 5,150 4.3% 0.0% Pleasant Hill 651,212,450 683,511,720 5.0% 2.0% Polk City 304,333,510 340,224,000 11.8% 1.0% Runnells 21,982,840 21,998,820 0.1% 0.1% Sheldahl 7,399,550 7,471,140 1.0% 0.0% Urbandale 3,156,319,860 3,317,222,760 5.1% 9.6% West Des Moines 4,049,331,760 4,374,451,780 8.0% 12.7% Windsor Heights 379,183,970 392,546,170 3.5% 1.1% TOTAL VALUE 32,180,193,660 34,469,898,850 7.1% 100.0% SUMMARY OF PARCEL COUNTS BY CLASS AND JURISDICTION TOWNSHIPS RESIDENTIAL AGRICULTURAL COMMERCIAL INDUSTRIAL MULTIRESIDENTIAL TOTAL Allen Township 174 70 5 0 0 249 Beaver Township 276 291 8 0 0 575 Bloomfield Township 4 2 0 0 0 6 Camp Township 546 594 8 1 1 1,150 Clay Township 354 204 6 2 0 566 Crocker Township 1,504 105 16 0 0 1,625 Delaware Township 1,619 158 63 4 6 1,850 Douglas Township 352 351 6 0 1 710 Elkhart Township 243 426 6 0 0 675 Four mile Township 881 179 8 0 0 1,068 Franklin Township 488 378 2 0 0 868 Jefferson Township 793 187 7 0 0 987 Lincoln Township 86 375 5 0 0 466 Madison Township 46 89 3 0 0 138 Saylor Township 2,322 75 621 47 14 3,079 Union Township 80 201 0 0 0 281 Washington Township 112 373 1 0 0 486 Webster Township 347 4 14 0 1 366 CITIES RESIDENTIAL AGRICULTURAL COMMERCIAL INDUSTRIAL MULTIRESIDENTIAL TOTAL Alleman 165 27 22 0 0 214 Altoona 5,532 104 263 12 28 5,939 Ankeny 19,894 299 720 31 54 20,998 Bondurant 1,754 108 91 3 5 1,961 Carlisle 28 61 2 1 0 92 Clive 3,466 1 323 9 19 3,818 Des Moines 68,637 354 4,343 418 874 74,626 Elkhart 247 26 28 1 2 304 Granger 106 3 0 0 0 109 Grimes 4,342 185 341 13 18 4,899 Johnston 6,987 117 304 9 8 7,425 Mitchellville 628 28 40 4 16 716 Norwalk 0 1 0 0 0 1 Pleasant Hill 3,119 108 153 13 10 3,403 Polk City 1,696 30 62 0 5 1,793 Runnells 196 7 19 0 1 223 Sheldahl 73 15 4 0 0 92 Urbandale 11,466 100 682 18 39 12,305 West Des Moines 14,036 125 838 43 79 15,121 Windsor Heights 2,008 0 83 0 11 2,102 POLK COUNTY 154,607 5,761 9,097 629 1,192 171,286

14 2015 ANNUAL REPORT OFFICE OF POLK COUNTY ASSESSOR 15 PROPERTY TAX TIMELINE The following table outlines the property assessment cycle. IOWA PROPERTY TAX ASSESSMENT CYCLE The assessment cycle is a lengthy one. The cycle required each time property is assessed is outlined below. Step Date 1 Jan. 1 Appraisal date for assessments. 2 Feb. 1 Applications for exemptions due. 3 March 15 Deadline to apply for the commercial property tax credit (deadline is July 1 beginning in 2016). 4 April 1 Assessors complete assessments and notify taxpayers. 5 April 2-25 Property owners can request an informal hearing with the Assessor. Property owner and Assessor can enter into a written agreement to change the assessment. 6 April 2-30 Taxpayers may appeal assessments to local boards of review. 7 May 1 31 Board of Review in session to consider appeals. This time may be extended to July 15. 8 June 15 Board of Review report due to the Director of Revenue. 9 July 1 Abstract of the assessment is due to the Director of Revenue. Application deadline for homestead credit, disabled veteran tax credit, and military exemption. 10 Aug. 15 The Director issues tentative equalization notices to county auditors in odd-numbered years. 11 Aug. 25 Sept. 30 The Director holds equalization hearings, which are held for public input. 12 Oct. 1 The Director issues final equalization orders to county auditors. 13 Oct. 1 10 Assessing jurisdictions may apply for alternative methods of implementing equalization orders. 14 Oct. 8 The county auditor publishes notices of the final equalization order. If valuation is increased by an equalization order, notification by mail by Oct. 8 is required. 15 Oct.9 31 Taxpayers may protest the final equalization order to local boards of review. 16 Oct. 10 Nov. 15 Local boards of review meet to hear equalization protests. 17 Nov. 1 The Director certifies assessment limitation percentages to county auditors. 18 Nov. 15 Local boards of review submit a report about the equalization protests to the Department. 19 Dec. 1 Feb. 28 The taxing authorities adopt the budgets based on the valuations. 20 March 1 The county board of supervisors levies the taxes. 21 July 1 The county treasurer receives authorization to collect taxes. 22 Sept. 30 First half of taxes due. 23 March 31 Second half of taxes due. Religious Institutions EXEMPT PROPERTY AS OF JULY 1, 2015 POLK COUNTY Churches & Church Headquarters 596,884,910 Parsonages 15,792,080 Recreational Property, Church Camps, etc. 151,212,760 Literary Societies Community Playhouse 17,536,180 Low-rent Housing Dwellings & Apartments 55,836,790 Veterans Organizations 2,205,280 Charitable & Benevolent Societies Hospitals 470,865,250 Fraternal Organizations 14,702,470 Agricultural Societies 11,110,130 Retirement & Nursing Homes 100,857,800 Others (YMCA, YWCA, etc.) 346,371,310 Educational Institutions & Church Schools 396,433,980 Pollution Control (Industrial M & E and Bldgs.) 7,523,910 Urban Revitalization Tax Exemption 591,871,010 Industrial Partial Exemption 67,188,790 Natural Conservation 2,495,450 Forest & Fruit Tree Preservation (6,759.08 acres) 26,694,470 Native Prairie And Wetlands 190,990 Jobs/Income 77,419,770 Impoundments 21,040 Manufactured Home/Storm Shelters 350,800 Geothermal Systems 619,640 TOTAL EXEMPT PROPERTY 2,954,184,810 Source: Iowa Department of Revenue

16 2015 ANNUAL REPORT OFFICE OF POLK COUNTY ASSESSOR 17 ACTIONS BY 2015 BOARD OF REVIEW NUMBER OF DAYS IN SESSION: 25 HISTORY OF ASSESSMENT PROTESTS Number of protests filed for each class of property and the number of protests upheld and denied for each class. A protest is considered upheld if even a partial reduction in the assessment was made. CLASS NUMBER OF PROTESTS NUMBER UPHELD NUMBER DENIED Agricultural 20 9 11 Residential Dwelling on Agricultural Realty 13 6 7 Residential outside incorporated cities 296 142 154 Residential within incorporated cities 4,393 2,162 2,231 Commercial 1,017 539 478 Industrial 45 32 13 Multiresidential 177 100 77 Total 5,961 2,990 2,971 ASSESSMENT PROTESTS FILED 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 Number of assessments raised or lowered by the Board of Review acting upon its own initiative. CLASS NUMBER OF INCREASES NUMBER DECREASES Agricultural 0 1 Residential Dwelling on Agricultural Realty 0 1 Residential outside incorporated cities 4 1 Residential within incorporated cities 103 56 Commercial 2 13 Industrial 1 1 Multiresidential 5 3 Total 115 76 The total amount of assessed valuation by which the original 2015 valuations were increased or decreased for each class of property. CLASS NET INCREASE OR DECREASE Agricultural 725,580 Residential Dwelling on Agricultural Realty 204,100 Residential outside incorporated cities 2,612,500 Residential within incorporated cities 39,850,540 Commercial 129,228,900 Industrial 11,013,500 Multiresidential 10,864,100 Total 194,499,220 1,000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 YEAR ASSESSMENT PROTESTS Property owners have the right to protest their property s valuation to the Board of Review. Assessment Year Protests Filed The Board of Review is an independent board 2000 406 composed of 10 private citizens appointed by 2001 7,975 the Conference Board. 2002 909 2003 9,716 The Board of Review considers all evidence 2004 596 presented by the property owner and the 2005 8,899 Assessor s office at a hearing and then issues a 2006 904 decision on the value of the property in question. 2007 7,200 2008 1,054 2009 7,573 2010 1,729 2011 5,278 2012 1,905 2013 3,519 2014 946 2015 5,961

18 2015 ANNUAL REPORT OFFICE OF POLK COUNTY ASSESSOR 19 HISTORY OF ASSESSMENT APPEALS RESIDENTIAL PROPERTY SALES DISTRICT COURT VS. PROPERTY ASSESSMENT APPEAL BOARD RESIDENTIAL SALES BY YEAR 600 PAAB 8,000 ASSESSMENT APPEALS FILED 550 500 450 400 350 300 250 200 150 100 DISTRICT COURT NUMBER OF SALES 7,000 6,000 5,000 4,000 3,000 2,000 50 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 YEAR 1,000 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 YEAR APPEALS FILED Year District Court PAAB TOTAL 2000 26 26 2001 149 149 2002 40 40 2003 454 454 2004 75 75 2005 253 253 2006 93 93 2007 116 275 391 2008 10 62 72 2009 43 540 583 2010 7 140 147 2011 37 426 463 2012 3 124 127 2013 42 183 225 2014 2 54 56 2015 22 336 358 If a property owner is not satisfied with the Board of Review s decision, the owner has a right to appeal the decision either to the District Court of Polk County or to the Iowa Property Assessment Appeal Board (PAAB). The PAAB came into existence in 2007 and has since taken on the majority of the appeal workload. MEDIAN SALE PRICE MEDIAN SALE PRICE OF SINGLE FAMILY HOMES 170,000 165,000 160,000 155,000 150,000 145,000 140,000 135,000 130,000 125,000 120,000 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 SALE YEAR

20 2015 ANNUAL REPORT RESIDENTIAL PROPERTY SALES STATISTICS BY CITY 2015 MEDIAN SALES RATIO BY CITY 101% 100% 99% MEDIAN SALES RATIO 98% 97% 96% 95% 94% 93% 92% 91% 90% 89% 88% Alleman Altoona Ankeny Bondurant Carlisle Clive Des Moines Elkhart Granger Grimes CITY Johnston Mitchellville Pleasant Hill Polk City Runnells Sheldahl Urbandale West Des Moines Windsor Heights 2015 MEDIAN SALES RATIO BY CITY Jurisdiction Number Of Sales Median Sales Ratio Alleman 4 99.97 Altoona 336 95.63 Ankeny 1,359 94.45 Bondurant 83 92.96 Carlisle 1 91.99 Clive 146 94.50 Des Moines 2,864 96.23 Elkhart 12 88.58 Granger 7 91.76 Grimes 268 94.26 Johnston 324 94.55 Mitchellville 18 100.16 Pleasant Hill 150 95.08 Polk City 60 91.16 Runnells 12 93.59 Sheldahl 3 93.67 Urbandale 580 93.89 West Des Moines 697 94.01 Windsor Heights 105 93.51

OFFICE OF POLK COUNTY ASSESSOR Randy Ripperger Polk County Assessor 111 Court Avenue # 195 Des Moines, IA 50309-0904 (515) 286-3014 OFFICE (515) 286-3386 FAX polkweb@assess.co.polk.ia.us www.assess.co.polk.ia.us