Text: H01454 Text: H01456 Text: H01400 - H01499 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend House File 692 as follows: 1 2 #1. Page 1, line 16, by striking the words "as 1 3 promptly as possible" and inserting the following: 1 4 "as promptly as possiblewithin thirty days of 1 5 receiving the assessment notice in section 441.23". 1 6 #2. Page 2, by inserting after line 5, the 1 7 following: 1 8 "Sec. . NEW SECTION. 441.20 LEGISLATIVE 1 9 INTENT. 1 10 It is the intent of the general assembly that there 1 11 be transparency in the property tax system. It is 1 12 further the intent of the general assembly that 1 13 property assessments for purposes of property taxation 1 14 be equal and uniform within classes of property. It 1 15 is further the intent of the general assembly to 1 16 minimize the impact that maintenance and upkeep by the 1 17 owner of property has on the assessment of that 1 18 property and that there be predictability in increases 1 19 of property assessments and that such predictability 1 20 be based primarily on the actions of the property 1 21 owner. It is further the intent of the general 1 22 assembly to minimize the impact that increases in 1 23 assessed value of property will have on property taxes 1 24 paid and that any increases will be primarily the 1 25 result of direct action taken by the local taxing 1 26 authority in setting budget amounts rather than by 1 27 increases in market value of property." 1 28 #3. Page 2, by striking lines 12 through 19. 1 29 #4. Page 7, by inserting after line 9, the 1 30 following: 1 31 "d. If a county enters into a contract before May 1 32 1, 2003, for a comprehensive revaluation by a private 1 33 appraiser and such revaluation is for the assessment 1 34 year beginning January 1, 2006, the valuations 1 35 determined under the comprehensive revaluation for 1 36 that assessment year shall be divided by the 1 37 cumulative inflation factor for the assessment year 1 38 beginning January 1, 2006, and that quotient shall be 1 39 considered the valuation of the property for the 1 40 assessment year beginning January 1, 2005." 1 41 #5. Page 7, by inserting after line 9, the 1 42 following: 1 43 "6A. Notwithstanding any other provision of this 1 44 section, the assessed value per square foot of a 1 45 structure times the total number of square feet of the 1 46 structure shall not exceed its fair and reasonable 1 47 market value for the assessment year, except for 1 48 agricultural structures which shall be valued 1 49 exclusively as provided in subsection 5." 1 50 #6. Page 10, by inserting after line 9, the 2 1 following: 2 2 "c. Buildings for human habitation that are used 2 3 as commercial ventures, including but not limited to 2 4 hotels, motels, rest homes, and structures containing 2 5 three or more separate living quarters shall not be 2 6 considered residential property." 2 7 #7. Page 10, line 25, by inserting after the word 2 8 "assessment." the following: "The notification shall 2 9 include a supplemental return form for the person to 2 10 list the person's property and any additions or 2 11 modifications completed in the prior year to a 2 12 structure located on the property, as required in 2 13 section 441.19." 2 14 #8. Page 11, by striking lines 30 through 32, and 2 15 inserting the following: "the number of structures, 2 16 and the total square footage of the structures by 2 17 class of property, and showing the values affixed to 2 18 agricultural land and the assessed value per square 2 19 foot affixed tothe propertythe structures by class 2 20 of property of all". 2 21 #9. Page 15, by inserting after line 21, the 2 22 following: 2 23 "Sec. . NEW SECTION. 441.47A EQUALIZATION OF 2 24 INFLATION FACTORS. 2 25 The director of revenue and finance on or about 2 26 August 15, 2007, and every two years thereafter, shall 2 27 order the equalization of the assessed value per 2 28 square foot resulting from the application of the 2 29 cumulative inflation factor in the several assessing 2 30 jurisdictions in each case as may be necessary to 2 31 bring such values as fixed by the assessor in cases of 2 32 purchases of property and newly constructed property 2 33 to the values determined for the assessment year 2 34 beginning January 1, 2005. In equalizing the effects 2 35 of the application of the cumulative inflation factor, 2 36 the department shall make use of reports issued by 2 37 Iowa state university of science and technology which 2 38 reports shall more precisely indicate, on a county-by- 2 39 county basis, annual and cumulative inflation factors 2 40 for each county. If the cumulative inflation factor 2 41 for an assessing jurisdiction as reported by Iowa 2 42 state university of science and technology is five 2 43 percent above or below the cumulative inflation factor 2 44 as defined in section 441.21, subsection 7, the 2 45 director shall notify the assessor by mail of the 2 46 equalization of the effects of the cumulative 2 47 inflation factor for the assessing jurisdiction. The 2 48 assessor shall recompute the assessments made pursuant 2 49 to section 441.21, subsection 3, paragraph "b", 2 50 subparagraph (1), subsection 4, paragraph "b", 3 1 subparagraph (1), and subsection 5, paragraph "b", 3 2 subparagraph (1), by applying the equalized inflation 3 3 factor. The assessor shall send notice of the 3 4 equalized assessments to all affected property 3 5 owners." 3 6 #10. Page 25, by striking line 3, and inserting 3 7 the following: "whether or not maximum square footage 3 8 rates and land tax rates should be imposed and, if 3 9 such rates are recommended, the imposition of rates". 3 10 #11. By renumbering as necessary. 3 11 3 12 3 13 3 14 CARROLL of Poweshiek 3 15 HF 692.701 80 3 16 sc/cl
Text: H01454 Text: H01456 Text: H01400 - H01499 Text: H Index Bills and Amendments: General Index Bill History: General Index
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