City Assessor Assessed and Taxable Valuations PresentationCopyrighted
February 2, 2026
City of Dubuque ACTION ITEMS # 1.
City Council
ITEM TITLE: City Assessor Assessed and Taxable Valuations
Presentation
SUMMARY: City Assessor Troy Patzner will make a presentation on the
2025 assessed and taxable valuations.
SUGGUESTED Receive and File; Presentation
DISPOSITION:
ATTACHMENTS:
1. Presentation
Page 436 of 865
2025 Assessed and Taxably
Value Presentateion
February 2, 2026
Troy Patmer, Dubuque City Assessor
2/2/2026 Dubuque City Assessor Presentation Page 437 ;f 865
Tax Cycle Timing
Jan 1, 2025 -Assessed Values set for changes made to properties
in calendar year 2024, including mandatory bi-annual revaluation
July 1, 2025, to June 30, 2026 - Ownership and accrual period
November 01, 2025 - Assessment Limitations ("Rollback") set for each class
by Iowa Dept. of Revenue; Auditors can now calculate Taxable Values
January to April 2026 - Budgetary hearings to determine revenue needs,
and by extension, levy rates
March 15, 2026 -Auditor mails out budgetary statement/public hearings
date letter to owners (IA Code 24.2a)
April 30, 2026 - Budget Deadline per S.F. 718 (2023)
July/August 2026 -Tax bills are calculated, mailed to owners
September 2026/March 2027 -1st half / 2nd half taxes due
2/2/2026 Dubuque City Assessor Presentation Page 438 of 865
What Causes Taxes to Change for a Property?
Changes in governmental spending needs (levy rates)
Changes to credits and/or exemptions
Assessed Value changes for parcel(s) including new
construction, revaluation, or credit/exemption eligibility
Legislature "shifts" tax burden between classes of property
Example: Homestead 65+ Exemption
Agricultural
Reside ntial/Res3+
Commercial
Industrial
Utilities and Railroads
2/2/2026 Dubuque City Assessor Presentation Page 439 of 865
What Causes Assessment Changes?
(Revaluation versus New Construction)
Revaluation changes tend to be related to:
Bi-annual Equalization process (odd numbered years)
Reappraisal review
Jurisdiction -wide changes; based on statistics, review, and
can be more subjective in nature ("market changes")
New Construction changes are typically recent physical
changes toa property ("hammer and nails")
Legislation mandates the auditor to file a report with the Department of
Management indicating if assessed value changes were made due to
revaluation or new construction --IA Code 331.510 (4)
2/2/2026 Dubuque City Assessor Presentation Page 440 of 865
Equalization Process
Iowa law requires that all real property be reassessed every two years in the odd
numbered years.
The Iowa Department of Revenue (IDR) compares values to a sales assessment
ratio study for residential, residential 3+ and commercial classed properties. The
assessment ratio is the assessed value divided by the sales price.
If the assessment (by property class) is not between 95%-105% of the median
sales ratio, the Iowa Department of Revenue adjusts the assessment with an
Equalization Order to reach 100% of actual value.
The Dubuque City Assessor's office revalued each of those property classes for
2025 so the median sales ratio would be within the parameters required by law,
thus an equalization order by the IDR was not needed.
2/2/2026 Dubuque City Assessor Presentation Page 441 of 865
Residential Properties
Residential values increased in the City of Dubuque along with the
rest of the state due to a continued strong real estate market.
The market adjustments for 2025 were not as high as the 24%
average value increases in 2023.
Value Changes due to Revaluation ("Market Value")
Dubuque City Residential: + 8.4%
Dubuque City Residential 3+: + 11.8%
z/z/2026
Dubuque City Assessor Presentation
Page 442 bf 865
Before Revaluation
Dubuque City Assessor
Sales Ratio Group Statistics
Study Name 2024 Sales
Study Date 01/012024-12/312024
Table Basis Historical (VOS)
Group Tally Number of sales in group = 713
PDFs 1
Time Adj. None
IIUTC 0.000
Deeds: 713: Contracts: 0: Other: 0
Love Assd Value
Mean
High Assd Value
Total
Sale Price
37,000
240,833
2,117,091
171,713,798
Land Value
0
0
0
0
Improvement Value
0
0
0
0
Total Assd Value
34,500
215,963
2,236,800
1 153,981,500
Love PIN 1012380005
Statistical Measures
High PIN 1022107008
High Ratio
503.43
Love Ratio
44.43
'Neighted Mean
89.67
Mean
91.08
Median
89.86
Coefficient of Dispersion - Median
13.01
Coefficient of Variance - Mean
26.88
Price Related Differential (PRD)
1.02
Price Related Bias (PRB)
-0.036
2/2/2026
Dubuque City Assessor Presentation
Page 443 of 865
I F-.- -, �
Aer
Revaluation
Dubuque City Assessor
Sales Ratio Group Statistics
Study Name 2024 Sales PDFs I
Study Date 01/01/2024-12/31/2024 Time Adj. None
Table Basis Historical (PrYr2025) NUTC 0.000
Group Tally Number of sales in group = 713 Deeds: 713: Contracts: 0: Other: 0
Sale Price
30, 000
240.8 33
2.117.091
171.713.798
Land Value
0
0
0
Improvement Value
0
0
0
Total Assd Value
25,500
239,635
2.524.800
170.859.400
Low PIN 1024127009
Statistical Measures
High PIN 1022 107006
High Rati,_
438-86
Low Ratio
18 14
Weighted Alean
99 50
A1ean
101 80
Aledian
99.77
Coefficient of Dispersion - Aledian
8.61
Coefficient of Variance - Alean
20 96
Price Related Differential (PRD)
1.02
Price Related Bias (PRB)
0.074
2/2/2026 Dubuque City Assessor Presentation Page 444 9f 865
pp
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165
167
212 142
127
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141 201
144 126
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162
214
163 140
121
125 122 128
215
216 146
145
161
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2/2/2026 Dubuque City Assessor Presentation
Page 445 8f 865
Map Area Before Revaluation
r.1- Araa
# of Sales
% of Total
26
3.65
111
0.900
54
7.57
112
0.890
31
4.35
120
0.970
40
5.61
121
0.850
6
0.84
1_2
0.860
5
0.70
123
0.970
5
0.70
1_4
0.990
2
0.2Y,
125
0.950
24
3.37
126
0.940
27
3.7P
127
0.900
12
168
128
0.880
30
4.21
130
0.980
30
4.21
131
1.000
39
5.47
140
0.980
37
5.19
141
1.000
23
3.23
142
0.940
20
2.81
143
0.920
26
3.65�
144
0.890
4
0.56
145
1.020
46
6.45
146
1.000
11
1.54
150
0.920
9
1.2E
151
0.990
6
0.84
152
0.950
19
2.61�
153
0.940
5
0.70
160
1.000
57
7.99
161
0.970
9
1.26
162
0.960
21
2.95
163
0.980
6
0.84
165
0.930
12
1.6f',
113
0.900
1 •:
2.52
154
0.980
Ill
1.40
Strata Totals ........................................ 713 100.00
Median Ratiom
Mean Ratio
P.R.D.
94.96
98.61
1.10
88.94
91.74
1.03
90.19
101.00
1.15
85.38.
84.62
0.99
72.53
16.83
77.88
1.08
104.59
1988.
101.23
1.03
92.50
9.92
91.01
1.02
68.63
8.31
68.63
1.01
92.27
8.09
91.40
1.00
92.43
25.84
104.89
1.10
87.55
17.88
85.91
1.03
77.55
1986.
78.30
0.96
85.09
9.46
86.04
1.01
90.60
9.16
89.82
1.01
91.00
10.76
90.85
1.01
88.46
9.63
90.20
0.96
89.13
8.52
91.98
1.01
89.86
5.97
91.01
1.01
94.84
10.66
92.96
1.01
86.13
13.10
87.94
1.01
90.13
9.75
90.06
1.00
88.34
8.88
91.18
1.01
99.76
25.19
114.94
1.16
91.93
5.42
91.81
1.00
93.53
12.49
84.34
0.97
86.90
1209.
92.65
1.03
94.40
6.95
91.09
1.00
89.98
826
90.99
1.00
87.19
9.35
8921
1.01
92.44
8.66
91.441
0.99
94.57
7.75
94.47
1.00
91.18
8.23
89.80
1.02
89.86
13.01
91.081
1.02
2/2/2026 Dubuque City Assessor Presentation Page 446 P865
Map Area After Revaluation
# of Sales % of Total
ill-
0.830
26
3.65
111
0.900
54
7.57
112
0.890
31
4.35
120
0.970
40
5.61
121
0.850
6
0.84
122
0.860
5
0.70
123
0.970
5
0.70
124
0.990
2
0.28
125
0.950
24
3.37
126
0.940
27
3.79
127
0.900
12
1.68
128
0.880
30
4.21
130
0.980
30
4.21
131
1.000
39
5.47
140
0.980
37
5.19
141
1.000
23
3.23
142
0.940
20
2.81
143
0.920
26
3.65
144
0.890
4
0.56
145
1.020
46
6.45
146
1.000
11
1.54
150
0.920
9
1.26
151
0.990
6
0.84
152
0.950
19
2.66
153
0.940
5
0.70
160
1.000
57
7.99
161
0.970
9
1.26
162
0.960
21
2.95
163
0.980
6
0.84
165
0.930
12
1.68
167
0.910
8
1.12
113
0.900
18
2.52
_`_4
0.900
10
1.40
Strata Totals ........................................
713
100.00
Median Ratio
COD Median
Mean Ratio
P.R.D.
100.55
15.24
109.33
1.06
99.64
7.26
100.14
101
99.63
22.64
116.29
1.14
100.46
9.93
104.74
1.01
98.34
23.80
116.81
1.11
95.52
15.91
101.47
1.04
98.75
3.92
96.69
1.01
94.00
1.02
94.00
1-00
100.91
11.85
106.76
1.05
100.00
12.97
10627
1.03
99.00
7.49
99.86
1.01
100.23
8.38
97.86
1.00
99.92
5.45
99.62
1.00
99.72
7.59
9761
1.02
100.47
8.68
102.33
1.01
99.00
7.81
100.72
0.96
100.82
6.98
101.98
1.01
100.27
5.76
102.03
1.01
97.25
5.76
97.96
1.01
100.00
7.76
101.37
1.01
100.57
6.44
100.43
1.00
99.49
8.76
97.84
1.02
99.35
10.76
106.79
1.08
100.51
3.70
9929
1.00
100.20
3.10
100.08
1.00
99.94
7.22
102.15
1.01
99.91
4.45
99.29
1.00
99.66
5.41
98.20
1.00
98.83
2.88
100.37
1.00
100.01
5.50
99.00
1.00
95.38
5.74
95.76
1.01
99.16
6.05
97.23
1.00
98.04
5.40
97.48
L00
99.77
8.61
101.80
1.02
2/2/2026 Dubuque City Assessor Presentation Page 447 4865
Total Living Area Strata
TI A nr (,RA Strata
# of Sales
% of Total
0 - --49
1
0.14
=50 -
499
500 -
749
13
1.82
750 -
999
76
10.66
1,000
- 1,249
194
27.21
1, =50
- 1, 499
193
27.07
1,500
- 1,749
102
14.31
1,750
- 1, 999
42
5.89
=, 000
- 2, 249
37
5.19
=, -50
- =, 499
26
3.65
^, 500
- 2,749
11
1.54
=, 750 -
=, 999
2
0.28
3,000 -
3, 249
4
0.56
3, =50 -
3, 499
3
0.42
3,500 -
3,749
1
0.14
3, 750 -
3, 999
3
0.42
4,000 -
4,249
1
0.14
4,=50 -
4,499
4,500 -
4,749
2
0.28
4,750 -
4,999
5,000 -
5,499
5, 500 -
5, 999
1
0.14
Before
After
Median Ratio
Median Ratio
IOU
84.51-1
93.03
86,5f
10041
89.1 ,_;
99.01
88.3:
99.34
90.44
99.91
93.8i.
101.99
93.64
101.31
92.11:1
101.28
92.50
98.75
100.9':
17&Y,
92.0-7,
103.39
92.07
99.89
99.41
99.4<
106.51
98.1�
100.14
72.5
95.86
967:��
Ini 1,-
2/2/2026 Dubuque City Assessor Presentation Page 448 ;?865
Rollback — Residential
State's Assessment Limitation, or "Rollback", plays a major role in tax
calculations, working as a counter -balance to assessment increases by
adjusting the percentage of an Assessed Value that becomes Taxable
Value.
The Rollback limits Taxable Value growth to 3% for the entire state for
these classes of properties. The Rollback does not limit value changes on
individual properties or by area.
2025 Residential parcels receive a 44.5345% Rollback factor, meaning
Taxable Value is 44.53% of the Assessed Value.
2024 Residential rollback was 47.4316%.
2/2/2026 Dubuque City Assessor Presentation Page 449 0865
Residential Property Example
(Average Single -Family Home Value)
Prior year (2024)
Current year (2025)
Change %
Assessed Value Rollback Taxable Value
$184,500 47.43% $87,500
$2001000 44.53% $891100
+8.4% -6.1% +1.8%
2/2/2026
Dubuque City Assessor Presentation
Page 450 ;#865
Commercial and Industrial Properties
Commercial properties increased 15.6% due to the normal arms length sale
transactions in Dubuque during 2024. While no longer Commercial, apartments also
saw larger increases based on sales prices versus prior assessments.
Per Senate File 619 (2021), the state -reimbursed "backfill" amount is
reduced each year until depleted in FY 2029— the estimated backfill
payment for FY 2026/27 is $292,705, down from $390,273 in the prior cycle
(25% decrease).
Two-tier Assessment Limitations —First $150,000 in Assessed Value for
Commercial/ Industrial/Railroad properties have the same Rollback as
Residential properties (44.53% in 2025).
Assessed Value above $150,000 has 90% Rollback for calculating taxable value.
2/2/2026 Dubuque City Assessor Presentation Page 451 ;P865
Commercial & Industrial Property Example
Example of a Two-tier Limitation Taxable Value calculation
Assessed Value Rollback Calculation Taxable Value
Prior year (2024) $300.,000 $150,000 x 47.43%
$150,000 x 90.00%
Current year (2025) $347,000 $150,000 x 44.53%
$197,000 x 90.00%
Change % +15.7%
$ 71,145
13 5 000
$206,145
$ 66,795
177 300
$ 244,095
2/2/2026 Dubuque City Assessor Presentation Page 452;P865
Assessed Value Added Due to New Construction
(Partially -exempt and properties in TIF districts are included)
Year City of Dubuque
2025 $42,079,500
2024 $54,492,660
2023 $51,078,360
2022 $33,210,380
2021
$37,978,310
Other Cities
$41,695,070
$49,061,135
$58,046,453
$26,2241050
$29,047,403
Rural Areas
$45,028,040
$36,382,270
$23,976,498
$52,872,183
$42,285,300
2/2/2026 Dubuque City Assessor Presentation Page 453 W865
2025 Total Assessed Value Changes
Classification
Residential & Ag Dwlgs
Residential 3+
Commercial
Industrial
Agricultural Land & Bldgs
Total All Classes
Change
+ $341,881,,440
+$101,083,721
+$236,896,451
+$ 13,995,850
+$ 11179,472
+$695,036,934
Total
$4,362,854,800
$ 468,5411554
$1,757,410,760
$ 1931684,660
$ 5,9631000
$6,788,454,774
2/2/2026 Dubuque City Assessor Presentation Page 454 W865
estions?
Troy W. Patzner
Dubuque City Assessor
1789 Elm Street, Suite A
Dubuque, IA 52001
(563) 589-4416
Troy.Patzner@dubuquecountyiowa.gov
2/2/2026 Dubuque City Assessor Presentation Page 455 P865