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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