Home values will jump an average of 22% since 2021's reassessments in notices that will be mailed at the end of the month, Polk County Assessor's office deputy Paul Humble tells Axios.

Why it matters: It's the steepest hike of residential values in at least 40 years.

What's happening: Iowa property values are reappraised by county assessors in odd-numbered years.

• Current market value — largely influenced by sales prices — is a key factor of an assessment.
• The assessed values of Polk County homes increased by an average of just 8% in the 2021 reassessments.

State of play: Despite a slight dip in sales prices in January, year-over-year prices are up.

• The median sale price of a single-family home in a six-county metro area including Polk was around $288,000 in December. That's up more than 9% in the last year, according to a report by the Iowa Association of Realtors.

Zoom in: The reassessments factor two years of gains in property value.

• Most of the larger areas — including DSM, Ankeny, WDM, Urbandale and Johnston — saw gains between 20-24%.

Of note: The values of office space in DSM's core business district, which is primarily downtown, were unchanged, but the average commercial class assessment is up 19.5%.

• That's partly associated with recent employee and business exoduses, Humble says.

Be smart: Larger assessments do not automatically mean tax bills will jump by the same percentages.

• State policies intended to help limit taxpayer pain and rates set by local governments will be big factors for what is ultimately owed.
• The new assessments will first be reflected on tax bills due in Sept. 2024.

✋ Object: Property owners can protest their assessments between April 2 and April 30.

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Des Moines Water Works Parks Foundation would have 29 years to pay its remaining balance of a Fleur Drive underpass project initially due in Sept. 2021, according to a proposal going before the City Council today.

Catch up fast: The underpass provides a direct link between Gray's Lake and Water Works parks, allowing recreational trail users to avoid crossing Fleur.

• An agreement with the city calls for the nonprofit foundation to pay almost all the underpass's $3.1 million construction costs plus $300K for maintenance.

State of play: The city oversaw the project, paid contractors and requested the previously agreed reimbursement from the foundation in late 2021.

• DSM Water Works Parks Foundation paid $1.4 million but then informed officials it had insufficient funds to pay the full amount, according to a council communication.

The latest: After months of negotiations, a payment plan is being proposed by city manager Scott Sanders.

• The unresolved amount of nearly $2 million would be paid without interest in annual installments until 2052.

Yes, but: The city would forgive the final $540K balance, meaning the foundation's remaining portion would ultimately be around $1.4 million.

Flashback: Foundation director Sam Carrell told Axios in 2021 that the pandemic made fundraising more challenging, but that his group was not reneging on its commitment.

• He did not respond to our requests for comment

Of note: The foundation has raised millions of dollars for other Water Works park projects, including playgrounds, art and the Lauridsen Amphitheater.

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Also going before City Council today are two large downtown residential projects.

Condos and homes

Hubbell Realty is leading a project with 65 single-home lots, two condo buildings with a total of 84 units and a clubhouse in the 1300 block of Tuttle Street in the Gray's Station neighborhood.

• The council is holding a public hearing to consider some of the project's development plans.

Apartments and commercial space

Heart of America Development is proposing a seven-story, 186-unit mixed-use building at 603 E. 6th St.

• Demolition of the former American College of Hairstyling building on the site could begin this year, with new construction completed in 2025.
• The council will vote on preliminary terms of an agreement for the $44 million project that includes almost $8.9 million in incentives.

💵 Nationwide posted record sales of $57 billion in 2022 despite higher interest rates and inflation. (Columbus Dispatch)

🚗 Must see: Watch bodycam footage of Pleasant Hill officers rescuing a woman submerged in her vehicle in a Runnells pond. (WHO-13)

👩‍⚕️ A group of Ukrainian doctors visited Des Moines' VA hospital for training to better help injured soldiers from Russia's invasion of Ukraine. (WHO-13)

💊 Walgreens won't sell abortion pills in Iowa and in 19 other states whose Republican attorneys generals have threatened to sue. (Radio Iowa)

🏀 The Drake Bulldogs are heading to the NCAA Tournament following a win against Bradley on Sunday. (WHO-13)

🌈 Hundreds protested legislation targeting LGBT Iowans outside the capitol Sunday. (KCCI)

⭐️ Today's headline maker: Emily Kessinger of DSM.

💼 Check out who's hiring around the city.

1. Infrastructure Director at Holmes Murphey.
2. Director of Nursing - Long Term Care at Good Samaritan Society.
3. Director Referral Center at UnityPoint Health.

Want more opportunities? Check out our Job Board.

Hiring? Post a job.

👋 Linh here with a confession — Cheez-Its are one of my all-time favorite snacks.

• So when I saw on Instagram that Crème serves up peanut butter and Cheez-It cookies ($3), my eyebrows definitely raised.

Driving the news: Crème describes the flavor profile of its newest cookie as "Sweet, salty, a little umami, and a lot of perfection."

Quick take: The rich, crumbly peanut butter cookie has light hints of saltiness from the Cheez-Its throughout, but the cheese de résistance is a sole cracker in the middle.

• It was both nostalgic and delightfully surprising at the same time.

Where to find it: Crème is open 11am-5pm Tuesday-Thursday and 11am-12am Friday and Saturday at 543 28th St., Des Moines.