Marion County Assessor Kelli Kingrey tells KNIA/KRLS News that residential valuations in Marion County have increased on average 18 percent.

Kingrey pointed out that doesn’t mean each property went up 18 percent. Some went up more and some went up less depending on the area in the county. Another fact that determines the valuation is land valuations going up. 

Sales nationwide have been on the rise in 2022. Marion County is the same as what is happening across the state of Iowa. Kingrey noted that high sale prices due to lack of supply and high demand and low interest rates were all factored in as well.

Kingrey said, “One thing to keep in mind is that the increased percentage in assessed valuation does not directly correlate with what your taxes might go up to.”

Buyers and sellers determine what is market value. Overall, the county was close to 20 percent too low on the previous assessment vs what sale prices were coming in at. Kingrey said that’s another reason for the increase.

She said she has worked to get the values as close to 100 percent of market value as possible.