Text: HF00575 Text: HF00577 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 433.16 ASSESSMENT OF LONG
1 2 DISTANCE TELEPHONE COMPANIES.
1 3 Beginning with the assessment year beginning January 1,
1 4 1996, property of a long distance telephone company, which
1 5 property is first assessed for taxation in this state on or
1 6 after July 1, 1996, shall be assessed by the director of
1 7 revenue and finance in the same manner as all other property
1 8 assessed as commercial property by the local assessor under
1 9 chapters 427, 427A, 427B, 428, and 441. As used in this
1 10 section, "long distance telephone company" means an entity
1 11 that provides telephone service and facilities between local
1 12 exchanges, but does not include a cellular service provider or
1 13 a local exchange utility holding a certificate issued under
1 14 section 476.29.
1 15 Sec. 2. Section 441.21, subsection 6, Code 1995, is
1 16 amended to read as follows:
1 17 6. For valuations established as of January 1, 1979,
1 18 commercial property and industrial property, excluding
1 19 properties referred to in section 427A.1, subsection 6, shall
1 20 be assessed as a percentage of the actual value of each class
1 21 of property. The percentage shall be determined for each
1 22 class of property by the director of revenue for the state in
1 23 accordance with the provisions of this section. For
1 24 valuations established as of January 1, 1979, the percentage
1 25 shall be the quotient of the dividend and divisor as defined
1 26 in this section. The dividend for each class of property
1 27 shall be the total actual valuation for each class of property
1 28 established for 1978, plus six percent of the amount so
1 29 determined. The divisor for each class of property shall be
1 30 the valuation for each class of property established for 1978,
1 31 as reported by the assessors on the abstracts of assessment
1 32 for 1978, plus the amount of value added to the total actual
1 33 value by the revaluation of existing properties in 1979 as
1 34 equalized by the director of revenue pursuant to section
1 35 441.49. For valuations established as of January 1, 1979,
2 1 property valued by the department of revenue pursuant to
2 2 chapters 428, 433, 436, 437, and 438 shall be considered as
2 3 one class of property and shall be assessed as a percentage of
2 4 its actual value. The percentage shall be determined by the
2 5 director of revenue in accordance with the provisions of this
2 6 section. For valuations established as of January 1, 1979,
2 7 the percentage shall be the quotient of the dividend and
2 8 divisor as defined in this section. The dividend shall be the
2 9 total actual valuation established for 1978 by the department
2 10 of revenue, plus ten percent of the amount so determined. The
2 11 divisor for property valued by the department of revenue
2 12 pursuant to chapters 428, 433, 436, 437, and 438 shall be the
2 13 valuation established for 1978, plus the amount of value added
2 14 to the total actual value by the revaluation of the property
2 15 by the department of revenue as of January 1, 1979. For
2 16 valuations established as of January 1, 1980, commercial
2 17 property and industrial property, excluding properties
2 18 referred to in section 427A.1, subsection 6, shall be assessed
2 19 at a percentage of the actual value of each class of property.
2 20 The percentage shall be determined for each class of property
2 21 by the director of revenue for the state in accordance with
2 22 the provisions of this section. For valuations established as
2 23 of January 1, 1980, the percentage shall be the quotient of
2 24 the dividend and divisor as defined in this section. The
2 25 dividend for each class of property shall be the dividend as
2 26 determined for each class of property for valuations
2 27 established as of January 1, 1979, adjusted by the product
2 28 obtained by multiplying the percentage determined for that
2 29 year by the amount of any additions or deletions to actual
2 30 value, excluding those resulting from the revaluation of
2 31 existing properties, as reported by the assessors on the
2 32 abstracts of assessment for 1979, plus four percent of the
2 33 amount so determined. The divisor for each class of property
2 34 shall be the total actual value of all such property in 1979,
2 35 as equalized by the director of revenue pursuant to section
3 1 441.49, plus the amount of value added to the total actual
3 2 value by the revaluation of existing properties in 1980. The
3 3 director shall utilize information reported on the abstracts
3 4 of assessment submitted pursuant to section 441.45 in
3 5 determining such percentage. For valuations established as of
3 6 January 1, 1980, property valued by the department of revenue
3 7 pursuant to chapters 428, 433, 436, 437, and 438 shall be
3 8 assessed at a percentage of its actual value. The percentage
3 9 shall be determined by the director of revenue in accordance
3 10 with the provisions of this section. For valuations
3 11 established as of January 1, 1980, the percentage shall be the
3 12 quotient of the dividend and divisor as defined in this
3 13 section. The dividend shall be the total actual valuation
3 14 established for 1979 by the department of revenue, plus eight
3 15 percent of the amount so determined. The divisor for property
3 16 valued by the department of revenue pursuant to chapters 428,
3 17 433, 436, 437, and 438 shall be the valuation established for
3 18 1979, plus the amount of value added to the total actual value
3 19 by the revaluation of the property by the department of
3 20 revenue as of January 1, 1980. For valuations established as
3 21 of January 1, 1981, and each year thereafter, the percentage
3 22 of actual value as equalized by the director of revenue and
3 23 finance as provided in section 441.49 at which commercial
3 24 property and industrial property, excluding properties
3 25 referred to in section 427A.1, subsection 6, shall be assessed
3 26 shall be calculated in accordance with the methods provided
3 27 herein, except that any references to six percent in this
3 28 subsection shall be four percent. For valuations established
3 29 as of January 1, 1981, and each year thereafter, the
3 30 percentage of actual value at which property valued by the
3 31 department of revenue and finance pursuant to chapters 428,
3 32 433, 436, 437, and 438 shall be assessed shall be calculated
3 33 in accordance with the methods provided herein, except that
3 34 any references to ten percent in this subsection shall be
3 35 eight percent. Beginning with valuations established as of
4 1 January 1, 1979, and each year thereafter, property valued by
4 2 the department of revenue and finance pursuant to chapter 434
4 3 shall also be assessed at a percentage of its actual value
4 4 which percentage shall be equal to the percentage determined
4 5 by the director of revenue and finance for commercial
4 6 property, industrial property, or property valued by the
4 7 department of revenue and finance pursuant to chapters 428,
4 8 433, 436, 437, and 438, whichever is lowest. However,
4 9 property described in section 433.16, and first assessed for
4 10 taxation in this state on or after July 1, 1996, shall be
4 11 assessed by the director of revenue and finance as all other
4 12 commercial property in the county.
4 13 EXPLANATION
4 14 This bill provides that, beginning January 1, 1996,
4 15 property of a long distance telephone company which is first
4 16 assessed for taxation in Iowa on or after July 1, 1996, shall
4 17 be assessed by the director of revenue and finance as other
4 18 commercial property in the county. The bill defines "long
4 19 distance telephone company".
4 20 LSB 2591HV 76
4 21 sc/jw/5
Text: HF00575 Text: HF00577 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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