Text: HSB00698                          Text: HSB00700
Text: HSB00600 - HSB00699               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index



House Study Bill 699

Bill Text

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 by said the assessor and such
  1  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  9 ninety-two million, six hundred five 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 exceeds ninety-two million, six hundred five
  1 14 hundred thirty-three million three hundred seventy-six
  1 15 thousand dollars and does not exceed one hundred eleven
  1 16 million, one hundred twenty six 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 exceeds one hundred
  1 20 eleven million, one hundred twenty six 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

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