How to Calculate the City of Clive Portion of Your Property Taxes
Property taxes on residential property are calculated using the following formula:
(Assessed Value × Roll Back - Homestead Credit) × Tax Rate ÷ 1,000
For a house valued at $250,000, City property taxes payable in FY 21 (due 9/1/2020 and 3/1/2021, based on 2019 assessments) were calculated as follows:
(($250,000 × 55.0743%) - $4,850) ÷ 1,000 x $10.14 = $1,396.07
The formula for commercial property is the same but without the homestead credit. In addition, commercial property has a different roll back percentage than residential property.
For a business valued at $250,000, City property taxes payable in FY 21 (due 9/1/2020 and 3/1/2021, based on 2019 assessments) were calculated as follows:
($250,000 ×90.00%) ÷ $1,000 x $10.14 = $2,281.50
Of the factors that make up the property tax formula, only the tax rate is controlled--in part--by the City of Clive. The factors in the formula are described below:
Assessed Value: Polk and Dallas Counties assesses the value of the property within Clive to approximate market value. A re-assessment is applied every other year with the latest re-assessment in 2019. This new assessment kick in for payments due in September 2020 and March 2021.
Roll Back: the roll back is a percentage calculated by the State of Iowa as a means of limiting the overall growth of a property class across the State. The roll back affects residential and commercial property.
Homestead Credit: A property tax credit given to homeowners by the State of Iowa on the first $4,850 of valuation. Other tax credits may also be applicable including military and elderly/low income credits.
Tax Rate: The tax rate is determined by taxing jurisdictions including the City, County, School District and other jurisdictions.These rates are determined by the locally elected boards but within guidelines set by the State of Iowa. The sum of each jurisdictions rate--city, plus county, school district, and other smaller jurisdictions--equals the consolidated tax rate. Only the City tax rate is referenced in the charts below.
1,000: This number represents how the rate is applied to the valuation. In other words, the tax rate is applied to every $1,000 of valuation or $10.14 of tax for every $1,000 of valuation.
Clive Property Tax and Valuation Data