Reviews of nearly 9,000 protests of property valuations have been completed by boards of review in Polk and Dallas counties.

In Polk County, the review board lowered the overall assessed value of property by more than $244.4 million, a report issued by the county assessor shows. In Dallas County, the review board lowered the overall assessed value of property by $7.8 million, according to its report.

County assessors revalue property, which is based on sales prices, appraisals and improvements, every other year. The assessments are among the pieces of information used to determine property owners’ tax bills. 

Polk County’s review board, which met for 35 days beginning in May, reviewed 7,893 protests from property owners who believed their 2019 property valuations either were too high or too low. The board agreed to change 4,065 of the valuations, or 51%. The remainder of the protests were denied.

Specifically in Polk County, the value of:

• Commercial property was lowered $105.5 million after the board changed the value of 347 properties. Overall, 696 protests were filed by the commercial property owners.
• Residential property within incorporated cities was lowered $104.4 million after the board changed the value of 3,431 properties. Overall, 6,509 protests were filed by residential property owners in cities.
• Multi-residential property was lowered $19.7 million after the board changed the value of 84 properties. Overall, 177 protests were filed by owners of multi-residential properties.

In 2017, 8,797 protests were filed and the review board changed 4,525 of the assessments, or 51%. That year, the board lowered the overall assessed value of property in Polk County by $198.4 million.

On average, residential property values in Polk County jumped 10% in 2019, assessor’s data shows. The value of commercial property increased 6.8% and multifamily residential, 20.7%.

In 2019, the value of Polk County’s assessed property was about $45 billion, up about 12% from the 2017 value of $40 billion.

The Dallas County board of review reviewed 1,017 protests, changing just 12% or 123 valuations. The remainder of the protests – 894 – were denied. 

Specifically in Dallas County, the value of:

• Commercial property was lowered $2.5 million after the board changed the value of five properties. Overall, 27 protests were filed by commercial property owners.
• Residential property within incorporated cities was lowered by $1.2 million after the board changed the value of 90 properties. Overall, 932 protests were filed by residential property owners in cities.
• Multi-residential property was lowered $3.2 million after the board changed the value of six properties. Overall, 13 protests were filed by owners of multi-residential properties.