Text: HSB00698 Text: HSB00700 Text: HSB00600 - HSB00699 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 441.16, subsection 4, unnumbered 1 2 paragraph 3, Code 1997, is amended to read as follows: 1 3 Any tax for the maintenance of the office of assessor and 1 4 other assessment procedure shall be levied only upon the 1 5 property in the area assessed bysaidthe assessor andsuch1 6 the tax levy shall not exceed forty and one-half cents per 1 7 thousand dollars of assessed value in assessing areas where 1 8 the valuation upon which the tax is levied does not exceed 1 9ninety-two million, six hundredfive hundred thirty-three 1 10 million three hundred seventy-six thousand dollars; thirty- 1 11 three and three-fourths cents per thousand dollars of assessed 1 12 value in assessing areas where the valuation upon which the 1 13 tax is levied exceedsninety-two million, six hundredfive 1 14 hundred thirty-three million three hundred seventy-six 1 15 thousand dollars and does not exceedone hundred eleven1 16million, one hundred twentysix hundred thirty-nine million 1 17 three hundred sixty thousand dollars; twenty-seven cents per 1 18 thousand dollars of assessed value in assessing areas where 1 19 the valuation upon which the tax is levied exceedsone hundred1 20eleven million, one hundred twentysix hundred thirty-nine 1 21 million three hundred sixty thousand dollars. The county 1 22 treasurer shall credit the sums received from such levy to a 1 23 separate fund to be known as the "assessment expense fund" and 1 24 from which fund all expenses incurred under this chapter shall 1 25 be paid. In the case of a county where there is more than one 1 26 assessor the treasurer shall maintain separate assessment 1 27 expense funds for each assessor. 1 28 Sec. 2. This Act applies to the fiscal year beginning July 1 29 1, 1999, and to all subsequent fiscal years. 1 30 EXPLANATION 1 31 City and county assessors are allowed by law to certify a 1 32 property tax levy to pay the operational expenses of the 1 33 assessor's office. The assessment expense fund has a limit on 1 34 the rate of tax according to the amount of assessed value in 1 35 the city or county. 2 1 The bill increases the assessed value limitations for 2 2 purposes of the assessment expense fund as follows: 2 3 PRESENT VALUATION PROPOSED VALUATION 2 4 RATE LIMIT LIMIT 2 5 .40 1/2/$1,000 $92,600,000 $533,376,000 2 6 .33 3/4/$1,000 over over 2 7 $92,600,000 $533,376,000 2 8 but not over but not over 2 9 $111,120,000 $639,360,000 2 10 .27/$1,000 over over 2 11 $111,120,000 $639,360,000 2 12 The bill applies to the fiscal year beginning July 1, 1999, 2 13 and all subsequent fiscal years. 2 14 LSB 4356YC 77 2 15 sc/cf/24
Text: HSB00698 Text: HSB00700 Text: HSB00600 - HSB00699 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
© 1998 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Wed Mar 18 03:45:34 CST 1998
URL: /DOCS/GA/77GA/Legislation/HSB/00600/HSB00699/980317.html
jhf