Senate File 183 - Introduced SENATE FILE BY OLIVE, DOTZLER, and WIECK Passed Senate, Date Passed House, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act relating to property assessment and taxation by creating a 2 recreational class of property. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2313XS 83 5 md/sc/14 PAG LIN 1 1 Section 1. Section 441.21, Code 2009, is amended by adding 1 2 the following new subsection: 1 3 NEW SUBSECTION. 13. a. Beginning with valuations 1 4 established on or after January 1, 2010, property described in 1 5 this subsection shall be valued as a separate class of 1 6 property called recreational property and shall be assessed at 1 7 fifty percent of its actual value. Recreational property is 1 8 subject to reassessment by the assessor and is subject to the 1 9 same equalization percentage amount determined by the director 1 10 of revenue pursuant to section 441.49 as is ordered for 1 11 commercial property. 1 12 b. For purposes of this subsection, "recreational 1 13 property" means a golf course, downhill skiing area, 1 14 campground, amusement park, or water theme park, if such 1 15 property is operated as a commercial enterprise and otherwise 1 16 subject to taxation. 1 17 EXPLANATION 1 18 This bill creates a new class of property, recreational 1 19 property, for purposes of property assessment and taxation, 1 20 beginning with valuations established on or after January 1, 1 21 2010. The bill describes recreational property as a golf 1 22 course, downhill skiing area, campground, amusement park, or 1 23 water theme park, all of which are operated as a commercial 1 24 enterprise and are otherwise subject to taxation. The bill 1 25 provides that recreational property shall be assessed for 1 26 taxation at 50 percent of its actual value. 1 27 LSB 2313XS 83 1 28 md/sc/14