HF 773 Talking Points Property Tax Transparency Trigger What the bill does: Starting in budget year 2021, if a city or county wishes to increase property tax revenue by more than two percent above the prior year, some extra
Without some curbs, property taxes can become unaffordable.
On Sunday Sept. 17 The Des Moines Register kicked off what we can expect will be a continuous refrain from local governments over the prospect of losing state property tax replacement funds. In 2013 the legislature cut back the portion
There’s lots of variation in property bills depending on one’s location within central Iowa. Taxes collected in September reflect the assessments that were made in 2012 and rates that are in effect for the current budget year (fiscal year 2013-2014).
After three sessions of wrangling, a compromise on property tax reform was reached this year. The legislation provides for a measure of property tax relief for commercial, industrial, residential and agricultural property, while holding local governments reasonably harmless. The Taxpayers
The rollback refers to the statewide percentage of residential or agricultural property assessed value that is taxable. Once the Iowa Department of Revenue determines the rollback for any given year, it is used by all local governments to determine their
There’s currently a lot of confusion and misconceptions about property tax policy changes under consideration this session. A couple of points of clarification are in order. First, changes being contemplated for commercial taxes will not cause a reduction in total