Transform, Ltd. v. Assessor of Polk County

NEUMAN, Justice.

This appeal concerns the proper application of the statutory two-year valuation cycle that governs the state’s system of property tax assessment. Under this system, real property is independently valued only in odd-numbered “assessment” years. In the even-numbered, or “interim” years, the assessment — absent error or change in value — is “locked into” the valuation from the preceding year. Vogt v. Board of Review, 519 N.W.2d 395, 396 (Iowa 1994).

The question is whether a taxpayer who successfully challenges an odd-numbered year assessment is entitled to a comparable adjustment…