Bills › 88th General Assembly
Providing a property assessment adjustment and a property tax adjustment for certain property of persons who have attained the age of sixty-five, applying income limitations, providing a penalty, and including retroactive and other applicability provisions
Topics:TaxesProperty taxes
Where it is now
- Done: IntroducedJanuary 23, 2020
- Done: SubcommitteeJanuary 28, 2020
- Stopped: Senate committeeDied when the General Assembly ended
- Next: Passes the Senate
- Next: House committee
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2020 session adjourned on June 14, 2020, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
This bill provides for an adjustment in the assessed value of a homestead, as defined in the bill, if the owner is a person who is or older and who has household earned income of less than $8,000 per year. If the qualifications established in the bill are met, the assessed value of the homestead upon which property taxes are levied in a fiscal year is the same assessed value as for the previous fiscal year. The bill specifies that assessed value is that value prior to any rollback being applied.
Read the full explanation
The bill further provides that if the amount of property taxes levied against the adjusted assessment following application of all applicable exemptions and credits exceeds the amount of property taxes levied against the property in the fiscal year for which taxes were first levied against an adjusted assessment under the bill, the county treasurer is required to subtract and cancel such difference from the amount due. The bill provides that a person who makes a false affidavit for the purpose of obtaining an adjustment, knowingly receives the adjustment without being legally entitled to it, or makes claim for the adjustment in more than one county without being legally entitled to it is guilty of a fraudulent practice and is subject to a criminal penalty.7. The bill applies retroactively to January 1, 2020, for assessment years beginning on or after that date and applies to claims filed on or after January 1, 2021, for the adjustments.
Senate subcommittee
Named January 28, 2020. It hasn’t reported yet.
- Sen. Jake Chapman R
- Sen. Waylon Brown R
- Sen. Giddens
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Iowa Code it changes
Creates§425B.1§425B.10§425B.11§425B.12§425B.13§425B.14§425B.2§425B.3§425B.4§425B.5§425B.6§425B.7§425B.8§425B.9
Lobbying
1 for · 2 against · 6 undecided · Who →
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