Bills › 90th General Assembly
Where it is now
- Done: IntroducedJanuary 20, 2023
- Done: SubcommitteeJanuary 20, 2023
- Done: House committeeFebruary 15, 2023
- Skipped: Passes the HouseContinued as HF 353
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Became HF 353 → Its progress continues under the new number. Go to HF 353 What’s a funnel?
What’s in it
21 provides that the actual value of agricultural property shall be determined on the basis of productivity and net earning capacity of the property determined on the basis of its use for agricultural purposes capitalized at a rate of percent and applied uniformly among counties and among classes of property. _____ classified as agricultural located in a levee and drainage district that is located adjacent to both the Mississippi river and the Iowa river and consists of at least 35,000 acres shall be exempt from taxation.
Read the full explanation
The exemption on such agricultural property shall be allowed if the property’s per-acre levee and drainage district taxes assessed exceed the applicable county’s per-acre five-year average levee and drainage district tax amount. The amount of the exemption shall be an amount equal to the number of net acres comprising the property multiplied by the amount by which the property’s per-acre levee and drainage district taxes exceed the county’s per-acre five-year average levee and drainage district tax amount divided by percent. However, in no case shall the amount of the exemption exceed percent of the actual land value of the property.
Changed since by amendment H-1197; see Amendments.
House subcommittee
Named January 20, 2023. On January 31, 2023 it recommended passage. Vote Total: 2-0.
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
Fiscal note
AI summary This bill provides a new property tax exemption for agricultural property located within a levee and drainage district that is adjacent to both the Iowa and Mississippi rivers and contains at least 35,000 acres. For fiscal year 2026, the exemption is estimated to reduce property taxes for landowners in the Two Rivers Levee and Drainage District by $491,000 compared to current law. This change is estimated to increase the State General Fund appropriation for school aid by $109,000 in fiscal year 2026.2
From the note: The new property tax exemption created in the Bill will reduce property taxes on agricultural land located within the Two Rivers Levee and Drainage District by an estimated $491,000 compared to current law for FY 2026.
- Levee and Drainage Districts · March 1, 2023 · $491,000
Iowa Code it changes
Amends§427.1
Lobbying
2 for · 8 against · 11 undecided · Who →
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Tried before
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90th General Assembly
Earlier and later bills are matched by wording or an identical title.
Tried before
This idea has been filed in an earlier General Assembly. None became law, though one got through a chamber.
- HF 2551 Establishing an exemption for certain property classified as agricultural based on levee a…89th General Assembly · Passed House · nearly identicalPassed a chamber
Matched by wording or an identical title.