Yes, water changes will lower all of your parameters. If you have a gallon of blue water and take out a quart and replace that with clear water, the result will be a lighter blue. This does not mean that the levels in question will not go back up. Do a water change as a 'quick fix' and then try to determine the cause of the elevated levels.
Oh, if the tank has not cycled do not do a water change at all. It will just prolong the cycle.
HTH,
cyn