How to Read the Estimated Drainage Assessments for Boone-Story #4

It should be noted that not all properties (agricultural land for example) have addresses. The last two numbers are specific to drainage. The original assessment is the benefit each property in the drainage district receives from being in the district. The sum of all the original assessments equals the cost to construct the district.

Under the proposed reclassification the total value of the district was set at $100,000.00 with Story County’s share being $17,976.79. Also, the reclassification report recommends annexing an additional 87 Story County parcels into the district.

The assessment amount is the amount each property will pay towards the proposed project. This number is calculated by dividing the needed funds by the original assessed value of the district. The district trustees moved to take bids on Option 2 in Fox Engineering’s report on 9/24/2007, available at the Story County Auditor’s office and at ftp://ftp.foxeng.com/. Fox is estimating the cost of Option 2 at $131,000.00 not including the cost of reclassification. The figures above reflect a $135,000.00 levy which would entail a 2,415% levy under the original classification and a 135% levy under reclassification.

The properties shown here are for Story County only. Boone County has the corresponding data for lands in their county. Tthe total assessment against the Story County side of the district and against some of the properties on the Story County side does not equal 2,426% of the original assessment. This is because the Code of Iowa has established $5.00 as the minimum assessment. Properties with an assessment of less than $5.00 will be charged $5.00 and this skews the final result.

There is additional information available on the Auditor’s page under Real Estate and Drainage Questions and Answers. The minutes of the March 28, 2007, August 1, 2007, and September 24, 2007 Meetings are available here.