Text: HF02393 Text: HF02395 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 403.19, Code 1995, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 8. For fiscal years beginning on or after
1 4 July 1, 1997, the tax revenues to be deposited in the special
1 5 fund from that portion of the assessed value defined in
1 6 subsection 2, of property assessed as residential property,
1 7 shall be limited to the tax revenues from any levy on the
1 8 first two hundred thousand dollars of improvements to each
1 9 parcel of such residential property. Any value of such
1 10 property in excess of two hundred thousand dollars shall be
1 11 included in the valuation defined in section 403.19,
1 12 subsection 1.
1 13 EXPLANATION
1 14 This bill provides that the amount of residential property
1 15 valuation increase for residential property located in an
1 16 urban renewal area which may be used to pay debt obligations
1 17 for the urban renewal area is limited to the tax levied
1 18 against the first $200,000 of improvements to the property.
1 19 The amount of valuation in excess of $200,000 shall be part of
1 20 the base valuation levied against by the city, county, and
1 21 school district.
1 22 LSB 3476HH 76
1 23 sc/jj/8
Text: HF02393 Text: HF02395 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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