Text: HSB00251 Text: HSB00253 Text: HSB00200 - HSB00299 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 499B.11, subsection 1, Code 1999, is
1 2 amended to read as follows:
1 3 1. All real property taxes and special assessments shall
1 4 be assessed and levied on each apartment and its respective
1 5 appurtenant fractional share or percentage of the land,
1 6 general common elements and limited common elements where
1 7 applicable as such apartments and appurtenances are separately
1 8 owned, and not on the entire horizontal property regime.
1 9 Sec. 2. Section 499B.11, Code 1999, is amended by adding
1 10 the following new subsection:
1 11 NEW SUBSECTION. 1A. a. Each apartment shall be
1 12 classified for real property tax purposes according to its
1 13 primary use and not in accordance with the use of the majority
1 14 of the apartments in the entire horizontal property regime.
1 15 b. Notwithstanding paragraph "a", an apartment meeting
1 16 either of the following conditions shall be classified as
1 17 follows:
1 18 (1) An apartment used for human habitation on January 1,
1 19 1999, or an apartment intended for use for human habitation in
1 20 a horizontal property regime pursuant to a declaration
1 21 submitting a parcel of real property to a horizontal property
1 22 regime pursuant to section 499B.3, which was recorded prior to
1 23 January 1, 1999, shall be classified as residential real
1 24 estate as long as the apartment is used for human habitation.
1 25 (2) An apartment intended for use for human habitation
1 26 included in a development plan for a horizontal property
1 27 regime which was approved by the city or county having
1 28 jurisdiction over the real property included in the
1 29 development plan prior to January 1, 1999, and which is
1 30 included substantially in accordance with the development plan
1 31 in an extension of a horizontal property regime established
1 32 pursuant to a declaration submitting a parcel of contiguous
1 33 real estate to a horizontal property regime pursuant to
1 34 section 499B.3, which was recorded prior to January 1, 1999,
1 35 shall be classified as residential real estate as long as the
2 1 apartment is used for human habitation.
2 2 EXPLANATION
2 3 The department of revenue and finance has adopted rules
2 4 that, beginning with January 1, 2000, horizontal property
2 5 regimes (condominiums) will be classified for purposes of the
2 6 property tax based upon the majority use of the condominium
2 7 apartments included in the building. This bill states that
2 8 each condominium apartment shall be classified according to
2 9 its primary use and not in accordance with the use of the
2 10 majority of the apartments.
2 11 The bill provides that if a condominium apartment was used
2 12 for human habitation on January 1, 1999, or was intended for
2 13 human habitation pursuant to a declaration, which was recorded
2 14 prior to January 1, 1999, to submit a parcel of property to a
2 15 horizontal property regime, the condominium apartment will be
2 16 residential property as long as the apartment is used for
2 17 human habitation. In addition, if a development plan to build
2 18 condominium apartments was approved by a city or county prior
2 19 to January 1, 1999, and the condominiums are built to the
2 20 general specifications, then such a condominium apartment will
2 21 be classified as residential as long as the apartment is used
2 22 for human habitation.
2 23 LSB 3085HC 78
2 24 mg/cf/24
Text: HSB00251 Text: HSB00253 Text: HSB00200 - HSB00299 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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