Bills › 89th General Assembly
SSB 1085
Topics:Taxes
Where it is now
- Done: IntroducedJanuary 25, 2021
- Done: SubcommitteeJanuary 25, 2021
- Done: Senate committeeFebruary 11, 2021
- Skipped: Passes the SenateContinued as SF 365
- Next: House committee
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Became SF 365 → Its progress continues under the new number. Go to SF 365 What’s a funnel?
What’s in it
This bill relates to property tax classifications, assessment limitations, and administration.21 provides that for assessment years beginning on or after January 1, 2015, property can be classified as multiresidential property. _____ habitation containing three or more separate dwelling units. The percentage of actual value at which multiresidential property is subject to tax has been reduced each assessment year beginning with the 2015 assessment year. The percentage of actual value is reduced by law until the percentage is equal to or below the percentage that is applicable to residential property, at which time the two classifications are subject to the same percentage, but not later than the assessment year beginning January 1, 2022.
Read the full explanation
The bill eliminates the classification of multiresidential property for assessment years beginning on or after January 1, 2022. The bill also provides that the types of property previously classified as multiresidential will, for assessment years beginning on or after January 1, 2022, be classified as residential property. The bill makes corresponding changes to various other provisions of law to reflect the elimination of the multiresidential property classification. The bill takes effect January 1, 2022, and applies to assessment years beginning on or after that date. The bill does not affect the operation of, or prohibit the application of, prior provisions of the Code sections amended by the bill, or rules adopted to administer such prior provisions, for assessment years beginning before January 1, 2022, and for duties, powers, protests, appeals, proceedings, actions, or remedies attributable to an assessment year beginning before January 1, 2022.
Changed since by amendment S-3032; see Amendments.
Senate subcommittee
Named January 25, 2021. On February 3, 2021 it recommended passage.
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
Lobbying
5 for · 0 against · 27 undecided · Who →
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89th General Assembly