Declaration of Value

POWERPOINT JEOPARDYWild CardNew Construction

ImprovementsClassificationsDual Class

50

40

30

20

10 10

20

30

40

50

10

20

30

40

50

10

20

30

40

50

Proper Use of NUTC 28 – two or more parcels with different classifications. Notation of parcel classifications.

Correct Multiresidential completion for 2015: Commercial or Industrial primary use with a component of multiresidential (human habitation).

Check only the Primary Classification

Incorrect completion of Primary Classification and NUTC

Select only one Classification

A dual class property that is primarily Commercial with a Multiresidential component (human habitation) is a normal sale.

Incorrect completion of Primary Classification and NUTC

Select only one Classification

A dual class property that is primarily Commercial with a Multiresidential component (human habitation) is a normal sale.

Incorrect completion of Primary Classification and NUTC

Select only one Classification

A dual class property that is primarily Commercial with a Multiresidential component (human habitation) is a normal sale.

Incorrect completion of Multiresidential - primarily used for human habitation containing more than 3 units is Multiresidential classification.

For AY2016 – Multiresidential properties can have a secondary component of commercial or industrial.

Correct completion for Multiresidential - primarily used for human habitation containing more than 3 units is Multiresidential classification.

For AY2016 – Multiresidential properties can have a secondary component of commercial or industrial.

Incorrect completion of Primary Classification

Select only one Classification

Complete the valuations by classification – not the parcel total.

Incorrect completion of Primary Classification

Select only one Classification

Incorrect completion of Primary Classification

Primary Classification should match Classification of valuation.

Completed and coded correctly.

New construction as of January 1 should use NUTC 25.

NUTC 16 – Additions or deletions to an existing structure.

Year Built is a good clue – here it is 2015, that tells us it is new construction not a change to an existing structure.

NUTC 16 – Additions or deletions to an existing structure.

NUTC 16 – Additions or deletions to an existing structure.

NUTC 16 – Additions or deletions to an existing structure.

No information on the nature of the NUTC. YearBlt indicates “1920”, however, there no indication whether this is due to an addition or demolition.

Insert Text for QuestionCategory 4 – 10 Points

Insert Text for QuestionCategory 4 – 20 Points

Insert Text for QuestionCategory 4 – 30 Points

Insert Text for QuestionCategory 4 – 40 Points

Insert Text for QuestionCategory 4 – 50 Points

Contract Sales are not used for equalization but should be coded accurately. They are considered basic data for statistical study. Do not use 50 to indicate contract sales. This information should be confirmed by the Assessor and is completed by the taxpayer at the top of the form.

Iowa Code 428A.2 (10) Deeds which, without additional consideration confirm, correct, modify or supplement a deed previously recorded.

Please complete this DOV with information that you believe is correct – a corrective deed is not required to submit a Declaration of Value or pay transfer tax. An incorrect legal, if it is corrected with a corrective deed, does not make this transaction abnormal.

A sale by a trust is not an abnormal sale. There is no NUTC for sales to/by a trust.

An abnormal sale not described in any of the NUTC provided should use 50 with a written explanation.

Incorrect completion of Primary Classification

Primary Classification is only Residential, Commercial, Industrial, Agricultural or Multiresidential.

Exempt properties still have a classification and a value – please use them. The proper NUTC for an exempt property is 2.

Concurrent transactions of adjoining or adjacent parcels with separate transfers/DOVs are not abnormal.

For classifications other than Agricultural, purchase of adjoining or adjacent property is abnormal (use NUTC 9). For Agricultural classifications, use NUTC 10.