Bills › 90th General Assembly
Modifying the calculation to determine the percentage of actual value at which agricultural and residential properties are taxed, and including applicability provisions
Topics:Taxes
Where it is now
- Done: IntroducedFebruary 8, 2024
- Stopped: SubcommitteeDied when the General Assembly ended
- Next: House committee
- Next: Passes the House
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The General Assembly adjourned on April 19, 2024. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
Under current law, calculations of the percentage of actual value at which agricultural and residential property are assessed for taxation are based on several factors. One such factor is the percentage of growth in each class of property. Under current law, the amount of growth that may be used to calculate the taxable percentage of each class of property is limited to the amount of growth of whichever class of property had less growth in the previous year if at least one class of property had less than percent growth.
Read the full explanation
This bill removes the limitation that residential property growth and agricultural property growth may only be calculated based on whichever class of property had lower growth. Both classes of property are still subject to the limitation that growth for that class of property cannot exceed percent in an assessment year. The bill applies to assessment years beginning on or after January 1, 2025.
From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text
Iowa Code it changes
Amends§441.21
Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works
Lobbying
2 for · 0 against · 2 undecided · Who →