Amendment S-3008 to SF 181
Relating to property taxes and income taxes by modifying the calculation of assessment limitations for certain property, amending provisions relating to certain tax withholding requirements and tax credits, and including effective date and retroactive applicability provisions
Failed · February 1, 2023
Filed February 1, 2023 in the Senate by Sen. Pam Jochum (D), Sen. Nate Boulton (D), Sen. Janice Weiner (D), Sen. Cindy Winckler (D) and 12 more
What it changes
- Page 3, after line 23 by inserting: “Sec. ___. LOCAL GOVERNMENT SUPPLEMENT —— FY 2023-2024.
- For the fiscal year beginning July 1, 2023, there is appropriated from the general fund of the state to the department of revenue an amount necessary to be used for payments under this section calculated as a result of the amendments to the calculation of assessment limitations under section 441.21, subsection 4, as amended in this Act.
- For the fiscal year beginning July 1, 2023, each county treasurer shall be paid by the department of revenue an amount calculated under subsection
- On or before April 1, 2023, the assessor shall report to the county auditor the total actual value of all residential property in the county that is subject to the assessment limitations imposed under section 441.21, subsection 4, for the assessment year beginning January 1,
- The county auditor shall prepare a statement, based on the report received in subsection 3, listing for each taxing district in the county: a. The product of the total actual value of all residential property that is subject to the assessment limitations under section 441.21, subsection 4, for the assessment year beginning January 1, 2022, multiplied by the difference, stated as a percentage, between the assessment limitation percentage applicable to residential property under section 441.21, subsection 4, for the assessment year beginning January 1, 2022, as amended in this Act, and the assessment limitation percentage that would be applicable to residential property under section 441.21, subsection 4, Code 2023, for the assessment year beginning January 1, 2022, but for enactment of this Act. b. The tax levy rate per one thousand dollars of assessed value for each taxing district for the fiscal year beginning July 1,
- c. The amount of the payment for each county, which is equal to the amount determined under paragraph “a”, multiplied by the tax rate specified in paragraph “b”, and then divided by one thousand dollars.
- The county auditor shall certify and forward one copy of the statement described in subsection 4 to the department of revenue and the department of management not later than June 1,
- The amounts determined under this section shall be paid by the department of revenue to the county treasurers in equal installments in September 2023 and March
- The county treasurer shall apportion the payments among the eligible taxing districts in the county and the amounts received by each taxing authority shall be treated the same as property taxes paid. Taxing entities shall not be required to recertify budgets for the fiscal year beginning July 1,
- The department of management shall, however, adjust property tax levy rates for the fiscal year to account for amounts received under this section.”
- Page 4, line 25, by striking “2023” and inserting “2023, subject to the adjustment of levy rates under the section of this Act providing for local government payments for the fiscal year beginning July 1,
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- Title page, line 3, after “property,” by inserting “providing a local government supplement, making appropriations,”
- By renumbering as necessary.