Text: HSB00686 Text: HSB00688 Text: HSB00600 - HSB00699 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 441.21, subsection 4, Code Supplement 1 2 1997, is amended by adding the following new unnumbered 1 3 paragraph: 1 4 NEW UNNUMBERED PARAGRAPH. For valuations established as of 1 5 January 1, 1999, and each year thereafter, the percentage of 1 6 actual value, as equalized by the director of revenue and 1 7 finance as provided in section 441.49, at which residential 1 8 property shall be assessed shall not be less than fifty 1 9 percent. If the percentage of actual value of residential 1 10 property as calculated in accordance with this subsection is 1 11 less than fifty percent, the director of revenue and finance 1 12 shall increase the percentage to fifty percent. For purposes 1 13 of determining valuations in the assessment year beginning 1 14 January 1, 2000, and for each subsequent assessment year, the 1 15 actual percentage for the prior year before adjustment to 1 16 fifty percent, if necessary, shall be the percentage used in 1 17 making the calculation of the dividend for that assessment 1 18 year. 1 19 Sec. 2. APPLICABILITY. This Act applies to assessment 1 20 years beginning on or after January 1, 1999. 1 21 EXPLANATION 1 22 The bill limits the percentage of actual value that 1 23 residential property may be rolled back to 50 percent 1 24 beginning with the assessment year beginning January 1, 1999. 1 25 The rollback for the 1998 assessment year is approximately 55 1 26 percent. 1 27 LSB 3908HC 77 1 28 mg/sc/14
Text: HSB00686 Text: HSB00688 Text: HSB00600 - HSB00699 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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