Frequently Asked Questions

No, the Assessor raises or lowers the values of property according to the market value of real estate or in the case of agricultural land, according to productivity and CSR.

Assessments are set January 1st of each year, while the tax levies (tax rates) on these assessments are not set until July of the following year. (Example, the assessment notices from April 2026 were for the January 1, 2026, assessment. Tax levies for these values will be set in June of 2027 based on what the different taxing authorities’ budget in March and April 2027 for the next fiscal year of July 2027 - June 2028.)

The taxing authorities you pay property taxes to are listed at the bottom of your tax statement each year, along with their budget information and a breakdown of how much you are paying to each taxing body.

Depending on the classification of the property, the assessment is to represent the market value of the property unless otherwise provided by Iowa Code. Residential, agricultural dwellings, commercial, and industrial classed properties are to be assessed at market value. Changes in market value as indicated by research, sales ratio studies and analysis of local conditions as well as economic trends both in and outside the construction industry are used in determining your assessment. Agricultural land and buildings are valued on productivity and net earning capacity.

I would first recommend either looking at your property information on our website Beacon - Keokuk County, IA - Search, or contacting our office, to see if we have everything listed correctly for your property. We will gladly provide a printout on your dwelling and/or buildings and explain how your value was determined. The Keokuk County Assessor's Beacon website is also a good place to find out how other comparable properties have sold.

If you still disagree with your value, there is an "Informal Agreement" period between April 2nd and April 25th. This process would involve a field appraiser coming out to look at your property to see if the value could possibly be adjusted so a formal protest with the Board of Review could be avoided. If an agreed upon value is reached, the Informal Agreement is signed by the aggrieved taxpayer, and the value is changed for the current assessment year. This is merely an option; you may choose to go directly to the Board of Review with a timely filed, formal protest.

If no agreement can be made, or if you choose not to go this route, you may file a petition with the Keokuk County Board of Review. Petitions are available in the Assessor's Office or online on the county's web site or the Iowa Department of Revenue's web site. Petitions must be filed within the timeframe provided by the Code of Iowa. This is currently April 2nd to April 30th of any given year. The petitions are filed in the Assessor's Office.

The Board of Review will meet during the month of May. You may decide to have an oral hearing before the Board or only decide to file your petition and submit any information you think is relevant to your petition. The Board will notify you by mail of their decision.

If you disagree with their decision, you may appeal within 20 days of the Board's adjournment, or May 31st, whichever is later. This date is usually May 31st. You may appeal to either the Property Assessment Appeal Board, or to Keokuk County District Court.

You are probably thinking of the Family Farm Tax Credit. This was required to be signed up every year by October 15th until 2001. If you signed up in 2001 or after, you do not have to sign again. However, if you have acquired more agricultural land after you last signed up, you will need to sign an application for the newly acquired land. Applications can be filed anytime. However, those filed after November 1st will be applied to the next year.

With the exception of agricultural land, real estate is assessed at current market value. The current market value for assessments is established every odd-numbered year and based on actual sales from the previous year. The Assessor's Office looks at all arms-length sales in the County, in a particular town, and of a certain building style to determine assessment for several properties at once.

An individual property may sell higher or lower than the assessed value for a number of reasons. There may have been a change in the property since our office last inspected the property. The change could have been something that would raise or lower the value.

These changes could include such things as a new garage or addition, a deck, new siding or windows, a garage or deck removed, or the overall condition of the dwelling has depreciated beyond what it would normally. Sometimes, one may be willing to pay more for a specific feature in a particular property, or the seller may be willing to sell it for less to reduce their worries and maintenance costs. There are also characteristics of a property which may affect the market value, but are not assessed, such as landscaping or personal property included in the sale.

There are several eligibility criteria to qualify for the Military Exemption on property taxes. 

These are:

1. Resident of this state who is a former member of the Armed Forces who served on active duty for a minimum of 18 months and who was discharged under honorable conditions, or who served fewer than 18 months and was honorably discharged because of a service-related injury.
2. Former member who was discharged under honorable conditions, or member who is currently serving, of the Reserve Forces or Iowa National Guard who has served at least 20 years.
3. Member of the Reserve Forces or Iowa National Guard who was activated for federal duty, excluding training, for a minimum of 90 days, and was discharged under honorable conditions or was retired under Title 10 of the United States Code.
4. Resident of this state who served on active duty in the Armed Forces of the United States in an eligible service period under Iowa Code section 35.1(2)(a) and was discharged under honorable conditions (see instructions on application form).
5. Former member of the Armed Forces, whose enlistment would have occurred during the Korean Conflict but chose to serve five years in the Reserve Forces and was discharged under honorable conditions.
6. Former member of the active, oceangoing merchant marines who served during World War II at any time between December 7, 1941, and December 31, 1946, both dates inclusive, who were discharged under honorable conditions.
7. Former member of the women’s air force service pilots and other persons who have been conferred veterans status based on their civilian duties during World War II in accordance with federal Pub. L. No. 95-202, 38 U.S.C. section 106.

To apply for this exemption, your discharge must be recorded in the Keokuk County Recorder’s office. Application is then made with the Assessor’s Office. If you are having trouble locating your discharge, you should contact Michelle Herman, Keokuk County Veteran Affairs Administrator, here’s the link to her office.

It will depend on when you signed the application. Applications must be signed on or before July 1st of the assessment year when you are first claiming the credit. If it is signed after July 1st, the credit is applied to the next assessment year.

Please remember that property taxes are due 18 months behind the current assessment year. For example, the upcoming property taxes payable in September 2026, and March 2027 are calculated on the assessment year and values for 2025. 

If you signed up after July 1, 2024, but on or before July 1, 2025, your credit was applied to the 2025 assessments on which the taxes are payable in September 2026 and March 2027 payments. If you signed up after July 1, 2025, your credit will be applied to the 2026 assessments, which will be used for the September 2027 and March 2028 property taxes.

Homestead and military credits were at one time applied for every year. In the mid-1980s, this was changed to a one-time sign-up. However, you do still have to sign up if you move to another house, even if it is next door or across the street.

There’s a Disabled Veterans Homestead Credit available for those that qualify. To qualify, one must have a permanent service-connected disability rating of 100%. You may also qualify if you have a permanent and total disability rating based on individual unemployability paid at 100% disability rate. 

To apply for this credit, one must have their discharge recorded in the Keokuk County Recorder’s office and a letter from the Veteran’s Affairs Department listing that they have a permanent and total disability rating of 100% or an unemployability rating of 100%. The VA letter must be a current one and part of the application for this credit. 

A surviving spouse of a disabled veteran who receives DIC payments also qualifies. They would also have to have the appropriate letter from Veteran’s Affairs showing that they receive DIC payments. 

If you need help getting the appropriate letters, contact Michelle Herman, Keokuk County Veteran Affairs Administrator, here’s the link to her office.

Each year, assessed values are subject to a rollback factor (sometimes called assessment limitation) which is determined by the Director of Revenue creating a taxable value. Property tax is calculated by applying a levy rate to the taxable value. Levy rates and rollbacks change from year to year therefore adjusting the amount of property tax.

A building being used as a business will be classed as commercial, even though it may be in a residential area or zoned residential. Again, it depends on the primary use of the property.

If a property has a building being used as a repair shop business, and there isn’t a house, this will be classed as commercial. However, if they discontinue the business and use the property for personal storage or use, then it could be re-classed as residential.

A house which is all used for an insurance office would be classed as commercial since it is used primarily for business purposes. However, if someone is using a room or two in the house for a business, i.e. beauty shop, insurance office, etc., and lives the rest of the house, this would be classed as residential.

Iowa legislators have enacted statutes that determine how a property is classed and assessed. Current statutes state that a property is to be classed according to its current and primary use. A property’s location or zoning does not determine classification for assessment. Agricultural real estate includes woodland, wasteland, and pastureland, but only if held in conjunction with other agricultural real estate.

A house on x acres with the primary use of the property is to live there, will be classed as residential. This would include properties with an outbuilding, which might have a horse or two, or a couple of cows, or mow a couple acres to sell hay bales. These uses would be incidental to the primary use of the property as a residence. 

Agricultural classification of small parcels is appropriate when they are the site of an intensive livestock use which demonstrates intended agricultural profit. Agricultural classification is also appropriate when they are adjacent to and operated as part of a larger farming operation.
This would differ from a house on 40 acres with 30 acres of cropland and 200 hogs. Even though the house is their primary residence, the primary use of overall property is agricultural.

There are two possible choices which may help with the property taxes for older citizens. One is applied for in the Assessor’s Office (Homestead 65+ Exemption), and one is applied for in the Treasurer’s Office (Elderly and/or Disabled Property Tax Credit). 

The Homestead 65+ Exemption is applied for in the Assessor’s office. You may file a new Homestead Credit application and supply your birthdate(s) on the new form. However, some counties are simply asking if you would provide documentation of your birthdate, such as a driver’s license, if you are already receiving the regular Homestead Credit.

You can apply before you turn 65. However, the exemption would not be applied until the year after you turned 65. The current year is 2026. To qualify to get the exemption for the 2026 assessment year, you would have had to turn 65 by January 1, 2026. You would have turned 65 in 2025, which means you were born in the year 1960. You would also have to apply by July 1, 2026. This exemption is like the Homestead Credit in that once you apply for it you won’t have to reapply every year, only if you move would you need to reapply.

The Elderly and/or Disabled Property Tax Credit is applied for in the County Treasurer’s Office. This is based on income and needs to be filed every year. Please contact the Treasurer’s office for more information on this credit.

Assessed values are to be at 100% fair market value. Your assessment should be near what you could expect to sell it for in the current market. As stated above, there could be several factors that would affect your sale price compared to your assessed value.