Text: HF00043 Text: HF00045 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 99D.14, subsection 6, Code 1997, is
1 2 amended by striking the subsection and inserting in lieu
1 3 thereof the following:
1 4 6. Real property used in the operation of a racetrack or
1 5 racetrack enclosure which is exempt from property taxation
1 6 under another provision of the law, including being exempt
1 7 because it is owned by a city, county, state, or charitable or
1 8 nonprofit entity, may be subject to real property taxation by
1 9 any taxing district in which the real property used in the
1 10 operation of the racetrack or racetrack enclosure is located.
1 11 To subject such real property to taxation, the governing body
1 12 of the taxing district shall pass a resolution imposing the
1 13 tax and shall notify the county assessor, director of revenue
1 14 and finance, and the owner of record of the real property by
1 15 September 1 preceding the fiscal year in which the real
1 16 property taxes are due and payable. The assessed value shall
1 17 be determined by the department of revenue and finance by
1 18 October 15 and the owner may protest the assessed value to the
1 19 state board of tax review by December 1. Property taxes due
1 20 as a result of this subsection shall be paid to the county
1 21 treasurer in the manner and time as other property taxes. The
1 22 county treasurer shall remit the tax revenue to those taxing
1 23 districts imposing the property tax under this subsection.
1 24 Real property subject to tax as provided in this subsection
1 25 shall continue to be taxed until such time as the governing
1 26 body of the taxing district repeals the resolution subjecting
1 27 the property to taxation.
1 28 EXPLANATION
1 29 The bill provides that real property used in the operation
1 30 of a racetrack or racetrack enclosure may be subject to
1 31 taxation even if otherwise exempt because it is owned by a
1 32 city, county, state, or a charitable or nonprofit entity. To
1 33 be so taxed, the governing body of the taxing district must
1 34 adopt a resolution subjecting the property to taxation. Once
1 35 a resolution is adopted the property will continue to be taxed
2 1 until the resolution is repealed.
2 2 LSB 1395HH 77
2 3 mg/cf/24.1
Text: HF00043 Text: HF00045 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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