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House Journal: Page 1738: Tuesday, April 29, 1997

Page  20

 1   racetrack or racetrack enclosure which is exempt from
 2   property taxation under another provision of the law,
 3   including being exempt because it is owned by a city,
 4   county, state, or charitable or nonprofit entity, may
 5   be subject to real property taxation by any taxing
 6   district in which the real property used in the
 7   operation of the racetrack or racetrack enclosure is
 8   located.  To subject such real property to taxation,
 9   the taxing authority of the taxing district shall pass
10   a resolution imposing the tax and, if the resolution
11   is passed prior to September 1, 1997, shall notify the
12   county local assessor, director of revenue and
13   finance, and the owner of record of the real property
14   by September 1, 1997, preceding the fiscal year in
15   which the real property taxes are due and payable.
16   The assessed value shall be determined and notice of
17   the assessed value shall be provided to the county
18   auditor by the department of revenue and finance
local
19   assessor by October 15, 1997, and the owner may
20   protest the assessed value to the state local board
of
21   tax review by December 1, 1997.  For resolutions
22   passed on or after September 1, 1997, the taxing
23   authority shall notify the local assessor and owner of
24   record prior to the next assessment year and the
25   valuation and appeal shall be done in the manner and
26   time as for other valuations.  Property taxes due as a
27   result of this subsection shall be paid to the county
28   treasurer in the manner and time as other property
29   taxes.  The county treasurer shall remit the tax
30   revenue to those taxing authorities imposing the
31   property tax under this subsection.  Real property
32   subject to tax as provided in this subsection shall
33   continue to be taxed until such time as the taxing
34   authority of the taxing district repeals the
35   resolution subjecting the property to taxation.
36   Notwithstanding section 99D.7, the department of
37   revenue and finance shall adopt rules to implement
38   this subsection.
39     Sec. 48.  Sections 236.15A, 427A.13, 440.2, 440.3,
40   440.4, 444.25, and 444.28, Code 1997, are repealed.
41     Sec. 49.  Sections 11 and 13 of this Act which
42   amend sections 422.5 and 422.32 apply retroactively to
43   January 1, 1997, for tax years beginning on or after
44   that date.
45     Sec. 50.  Section 17 of this Act, amending section
46   422.45, subsection 18, being deemed of immediate
47   importance, takes effect upon enactment.
48     Sec. 51.  Sections 6, 12, and 22 of this Act,
49   enacting section 421.17, subsection 22A and amending
50   section 422.20 and section 422.72, subsection 3, and

Iowa General Assembly

Index: House Journal (77th General Assembly: Session 1)

© 1997 Cornell College and League of Women Voters of Iowa

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