TAX IMPACT

What Will It Cost Me?

Average tax impact per home is $12.50 per month. Based on a median assessed home value of $250,000 in Underwood Community School District.
Average tax impact per acre of agricultural land is $0.16 per month. This is based on a county median assessed value of $1,966 per acre in Pottawattamie County.

Did You Know?

This referendum represents a lower tax impact than the referendum last year.

Residential homestead monthly tax impact dropped approximately 37% from $20 per month to $12.50 (average).
Agricultural land monthly tax impact dropped approximately 43% from $0.28 per acre to $0.16 per acre (average).

Residential
Tax Impact

Agricultural
Tax Impact

*Per Iowa Department of Revenue, 1/1/2023 Assessed Valuation Average for Pottawattamie County = $1,966/acre

Tax Impact Summary

View the Summary of Referendum Tax Impact from the District financial advisors, Piper Sandler.

TAX IMPACT SUMMARY ⇨

How to Calculate your Ag Land Tax Impact

In Iowa, agricultural land is assessed based on its productivity or use value rather than market value.

LEARN HOW TO CALCULATE HERE ⇨

How is the money being spent?

Do property owners pay taxes on their full assessed value?

Property owners do not pay taxes on their entire assessed value. Iowa law provides a method to “roll back” property assessed values. Based on the current estimated rollback, homeowners will likely only pay taxes on 46.3428% of the assessed value of their home. This is statewide, regardless of where someone lives. In addition, if your property is your primary residence (or homestead), there is an additional estimated $4,850 credit that further reduces the value homeowners will pay taxes on.

How long would the bond loan be?

The bond is expected to be outstanding for 21 budget years. The district would consult with its financial advisor throughout the term and explore ways to potentially shorten the loan, saving taxpayer funds.

Iowa School Funding Video

How well do you understand Iowa school funding and the role of referendums?

This video clarifies funding sources, dispels misconceptions, highlights how tax impact is calculated, and emphasizes the importance of maintaining school facilities.

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