The Iowa Court of Appeals has sided with Wellmark in its fight over the property taxes Polk County officials sought to collect on the company’s corporate headquarters.
In 2010, Wellmark Blue Cross-Blue Shield completed its new corporate headquarters in downtown Des Moines. It covers two city blocks and a vacant street — almost five acres in total. The county assessed the property at $99 million. A district court ruled the actual value of the property was $78 million. The Iowa Court of Appeals today affirmed that decision. In one section of its ruling, the appeals court wrote that the Polk County Board of Review “simply misses the mark” in how it interprets appraisals of the property.