Text: HF00439 Text: HF00441 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 441.21, subsection 4, Code 2001, is
1 2 amended to read as follows:
1 3 4. For valuations established as of January 1, 1979, the
1 4 percentage of actual value at which agricultural and
1 5 residential property shall be assessed shall be the quotient
1 6 of the dividend and divisor as defined in this section. The
1 7 dividend for each class of property shall be the dividend as
1 8 determined for each class of property for valuations
1 9 established as of January 1, 1978, adjusted by the product
1 10 obtained by multiplying the percentage determined for that
1 11 year by the amount of any additions or deletions to actual
1 12 value, excluding those resulting from the revaluation of
1 13 existing properties, as reported by the assessors on the
1 14 abstracts of assessment for 1978, plus six percent of the
1 15 amount so determined. However, if the difference between the
1 16 dividend so determined for either class of property and the
1 17 dividend for that class of property for valuations established
1 18 as of January 1, 1978, adjusted by the product obtained by
1 19 multiplying the percentage determined for that year by the
1 20 amount of any additions or deletions to actual value,
1 21 excluding those resulting from the revaluation of existing
1 22 properties, as reported by the assessors on the abstracts of
1 23 assessment for 1978, is less than six percent, the 1979
1 24 dividend for the other class of property shall be the dividend
1 25 as determined for that class of property for valuations
1 26 established as of January 1, 1978, adjusted by the product
1 27 obtained by multiplying the percentage determined for that
1 28 year by the amount of any additions or deletions to actual
1 29 value, excluding those resulting from the revaluation of
1 30 existing properties, as reported by the assessors on the
1 31 abstracts of assessment for 1978, plus a percentage of the
1 32 amount so determined which is equal to the percentage by which
1 33 the dividend as determined for the other class of property for
1 34 valuations established as of January 1, 1978, adjusted by the
1 35 product obtained by multiplying the percentage determined for
2 1 that year by the amount of any additions or deletions to
2 2 actual value, excluding those resulting from the revaluation
2 3 of existing properties, as reported by the assessors on the
2 4 abstracts of assessment for 1978, is increased in arriving at
2 5 the 1979 dividend for the other class of property. The
2 6 divisor for each class of property shall be the total actual
2 7 value of all such property in the state in the preceding year,
2 8 as reported by the assessors on the abstracts of assessment
2 9 submitted for 1978, plus the amount of value added to said
2 10 total actual value by the revaluation of existing properties
2 11 in 1979 as equalized by the director of revenue pursuant to
2 12 section 441.49. The director shall utilize information
2 13 reported on abstracts of assessment submitted pursuant to
2 14 section 441.45 in determining such percentage. For valuations
2 15 established as of January 1, 1980, and each year thereafter,
2 16 the percentage of actual value as equalized by the director of
2 17 revenue and finance as provided in section 441.49 at which
2 18 agricultural and residential property shall be assessed shall
2 19 be calculated in accordance with the methods provided herein
2 20 including the limitation of increases in agricultural and
2 21 residential assessed values to the percentage increase of the
2 22 other class of property if the other class increases less than
2 23 the allowable limit adjusted to include the applicable and
2 24 current values as equalized by the director of revenue and
2 25 finance, except that any references to six percent in this
2 26 subsection shall be four percent. For agricultural property
2 27 valuations established as of January 1, 2002, and subsequent
2 28 years, in addition to the four percent limitation of increases
2 29 statewide, increases in agricultural property for any one
2 30 county shall not exceed ten percent from the previous
2 31 assessment year.
2 32 EXPLANATION
2 33 This bill provides that, in addition to the statewide
2 34 assessment limitation of 4 percent on agricultural property
2 35 values, agricultural property on a countywide basis shall not
3 1 be increased by more than 10 percent over the previous
3 2 assessment year.
3 3 The bill applies to the assessment year beginning January
3 4 1, 2002, and all subsequent assessment years.
3 5 LSB 1591HH 79
3 6 sc/cf/24
Text: HF00439 Text: HF00441 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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