Text: HSB00709                          Text: HSB00711
Text: HSB00700 - HSB00799               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

House Study Bill 710

Bill Text

PAG LIN
  1  1    Section 1.  Section 441.72, Code 2001, is amended to read
  1  2 as follows:
  1  3    441.72  ASSESSMENT OF PLATTED LOTS.
  1  4    When a subdivision plat is recorded pursuant to chapter
  1  5 354, the individual lots within the subdivision plat shall not
  1  6 be assessed in excess of the total assessment of the land as
  1  7 acreage or unimproved property for three years after the
  1  8 recording of the plat or until the lot is actually improved
  1  9 with permanent construction, whichever occurs first.  When an
  1 10 individual lot has been improved with permanent construction,
  1 11 the lot shall be assessed for taxation purposes as provided in
  1 12 chapter 428 and this chapter.  This section does not apply to
  1 13 special assessment levies.
  1 14    Sec. 2.  Section 405.1, Code 2001, is repealed.
  1 15    Sec. 3.  APPLICABILITY.  This Act applies to assessment
  1 16 years beginning on or after January 1, 2003.  
  1 17                           EXPLANATION
  1 18    Currently, a platted lot for which a subdivision plat has
  1 19 been recorded will be assessed for property tax purposes as
  1 20 acreage or unimproved property for three years or until the
  1 21 lot is actually improved with permanent construction,
  1 22 whichever occurs first.  This bill removes that time limit and
  1 23 provides that a platted lot will be assessed as acreage or
  1 24 unimproved property until the lot is actually improved with
  1 25 permanent construction.
  1 26    The bill also repeals a section of the Code that allowed a
  1 27 county of 20,000 or less to adopt an ordinance providing for
  1 28 assessment of subdivided lots acquired for development of
  1 29 housing in the manner they were assessed prior to acquisition
  1 30 for five years from the date of subdivision or until the lot
  1 31 is sold for construction or occupancy of housing, whichever is
  1 32 sooner.  The section repealed also allowed counties with a
  1 33 population of 20,000 or more to adopt the same ordinance but
  1 34 with a three-year assessment period.
  1 35    The bill applies to assessment years beginning on or after
  2  1 January 1, 2003.  
  2  2 LSB 5218YC 79
  2  3 sc/pj/5
     

Text: HSB00709                          Text: HSB00711
Text: HSB00700 - HSB00799               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

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