What is the Rollback Rate?
• The Rollback Rate is an annual statewide rate set annually for each property class by the Iowa Department of Revenue. In effect, the rate of growth in value for a given property class may be limited by the rate of growth in value of another property class. Somewhat similar to two people tied together in a three-legged race, neither property class can get too far ahead of the other one. • How is Taxable Value calculated? Taxable Value for most property is calculated by multiplying the Rollback Rate for the correct property class by the equalized 100% Actual Value. Taxable Value for gas & electric utility property is calculated by the Iowa Department of Revenue. • Overview of Historic Rollback Rates • Understanding Rollback Rates Assessment Year Residential Property Agricultural Property Commercial Property Industrial Property Railroad Property Utility * Property 1978 .782516 .962480 1.000000 1.000000 1.000000 1.000000 1979 .643801 .946706 .889872 1.000000 1.000000 1.000000 1980 .66735
