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House Amendment 1455

Amendment Text

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 possible within 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 to the property the 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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