Updated C.R. home values to be mailed

CEDAR RAPIDS - Homeowners can fit into one of two categories: Those who learn of a rise or drop in their home's value and think themselves wealthier or poorer, and those who get the news and bark or rejoice because it means higher or lower property taxes.

Cedar Rapids homeowners we'll get a chance to see where they fall as soon as Saturday, the day after City Assessor Scott Labus mails out letters to Cedar Rapids property owners whose assessments have changed since Jan. 1, 2011.

Only owners whose valuations have changed will get a letter, but everyone can go to the assessor's website at http://smgs.us/crassessorand click on “property search” to see if and how the valuation of their property - or any property in the city - may have changed.

The Assessor's Office, which adjusts residential assessments annually based on home sales over a three-year period, breaks the city into about 200 micro-neighborhoods and analyzes sales of properties in each to help determine valuation changes.

The office on Wednesday said it was still finalizing its work on the new assessments. Last week, Labus said about 30 of the neighborhoods will see increases of up to 8 percent, and about 50 others will see declines of as much as 12 percent. The rest of the neighborhoods will see little change, he said.

Overall, residential property value in the city is increasing about 2 percent, Labus said.

The new valuations represent the Jan. 1, 2012, assessment upon which property taxes due in September 2013 and March 2014 will be based.

Those not satisfied with their new assessments can file petitions with the Cedar Rapids Board of Review between April 16 and May 7. Petition forms are available at the Assessor's Office, 1201 Sixth St. SW., or

website.