The total valuation of data center properties that are either fully developed or are in the process of being developed increased 5.1% in 2025 from 2024, a review of valuations in Polk, Dallas, Madison and Warren counties show.

In 2025, the total assessed valuation of the nine properties owned by Apple, Meta and Microsoft in the four counties totaled just over $3.755 billion, the review shows. In 2024, the total valuation of the properties was $3.572 billion. The three companies own over 3,100 acres in Polk, Dallas, Madison and Warren counties, the review shows.

(The Business Record review did not include properties in Van Meter where Microsoft and COPT Defense Properties plan to develop data centers. Development of the centers is not yet underway.)

Since 2013, Central Iowa has experienced a flurry of data center development with more planned in the coming years.

Data centers are helping to diversify Iowa’s economy, Debi Durham, director of the Iowa Economic Development and Iowa Finance authorities, recently told the Business Record. “When you have the who’s who of the data centers, you put Iowa on the map.”

Before the data centers are built, most companies reach agreements with cities regarding the minimum valuation properties will be assessed over a certain time period. Those minimum valuations are used to determine the amount of property taxes companies will pay.

“Some of those [minimum] valuations are a little higher than what we would assess the properties at,” said Bryon Tack, chief deputy assessor for Polk County.

The adjusted valuation of the nine properties totals just over $1.1 billion, the review shows. The property tax bill for the nine properties in 2024-25 totaled $30.7 million, public records show.

Construction of the data centers has helped to open up new development areas in cities.

In West Des Moines, for example, more than $200 million in public improvements such as the

installation of new sewers, water lines, roads and bridges have been constructed. Most of the improvements have been paid for with property tax increment generated from development of Microsoft data centers, said Ryan Moffatt, the city’s community and economic development director.

Among the new infrastructure is the 8.5-mile extension of Veterans Parkway and the Grand Prairie Parkway bridge over the Raccoon River. The new infrastructure has opened about 4,500 acres for new residential, commercial and industrial development in West Des Moines, Moffatt said.

Microsoft’s investment in West Des Moines “has been a big economic boost for us,” Moffatt said.

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2025 data center property valuations

The valuation of data center properties in Polk, Dallas, Madison and Warren counties totaled over $3.75 billion, a Business Record review shows. The valuation is 5.1% higher than in 2024.

To find out more, check out the Business Record’s interactive database that includes 2025’s total and adjusted valuations and 2024-25 property tax bills.

To view the interactive map, click here.

To view the spreadsheet, click here.