Text: HF00001 Text: HF00003 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 443.1A DETERMINATION OF
1 2 PERCENTAGE OF ADJUSTED TAXABLE VALUE.
1 3 1. On or before December 15 of each year, the board of
1 4 supervisors of each county and the city council of each city
1 5 shall, by resolution, determine the percentage of the adjusted
1 6 taxable value that will be subject to the ad valorem property
1 7 tax levy payable in the following fiscal year. The same
1 8 percentage shall be applied to all classes of property. The
1 9 board and each city council shall certify such percentage to
1 10 the county auditor.
1 11 Notice of the percentage of adjusted taxable value subject
1 12 to the ad valorem property tax levy payable in the following
1 13 fiscal year for the county and for each city shall be
1 14 published by the auditor in a newspaper of general circulation
1 15 in the county on or before the following March 15. The notice
1 16 shall read as follows:
1 17 "State law allows the (board of supervisors or city
1 18 council, as applicable) to set the percentage of the property
1 19 tax assessed value that will be subject to property tax, after
1 20 application of the state rollback and equalization. For taxes
1 21 due and payable in the fiscal year beginning July 1, (year),
1 22 the percentage of assessed value subject to the (county or
1 23 city, as applicable) property tax levy will be (insert
1 24 percentage)."
1 25 2. For purposes of this section, "adjusted taxable value"
1 26 means the taxable value after the assessment limitation in
1 27 section 441.21 has been applied and after the equalization
1 28 order in section 441.47 has been applied.
1 29 Sec. 2. Section 443.2, unnumbered paragraph 2, Code 2003,
1 30 is amended to read as follows:
1 31 The county auditor shall list the aggregate actual value
1 32 and the aggregate taxable value of all taxable property within
1 33 the county and each political subdivision including property
1 34 subject to the statewide property tax imposed under section
1 35 437A.18 on the tax list in order that the actual value of the
2 1 taxable property within the county or a political subdivision
2 2 may be ascertained and shown by the tax list for the purpose
2 3 of computing the debt-incurring capacity of the county or
2 4 political subdivision. As used in this section, "actual
2 5 value" is the value determined under section 441.21,
2 6 subsections 1 to 3, prior to the reduction to a percentage of
2 7 actual value as otherwise provided in section 441.21 and prior
2 8 to any reduction approved under section 443.1A. "Actual
2 9 value" of property subject to statewide property tax is the
2 10 assessed value under section 437A.18.
2 11 Sec. 3. Section 443.2, Code 2003, is amended by adding the
2 12 following new unnumbered paragraph:
2 13 NEW UNNUMBERED PARAGRAPH. For the county and each city in
2 14 the county, the auditor shall include, in a separate column,
2 15 the percentage of adjusted taxable value that will be subject
2 16 to the ad valorem property tax as that percentage is certified
2 17 by the board of supervisors and the city council of each city
2 18 pursuant to section 443.1A.
2 19 Sec. 4. APPLICABILITY. This Act applies to assessments
2 20 for taxes due and payable in the fiscal year beginning July 1,
2 21 2004, and all subsequent fiscal years.
2 22 EXPLANATION
2 23 This bill requires the county board of supervisors and the
2 24 city council to adopt a resolution on or before December 15 of
2 25 each year indicating the percentage of adjusted taxable value
2 26 that will be subject to the ad valorem property tax in the
2 27 following fiscal year. The boards and city councils shall
2 28 certify the percentage to the county auditor, who is required
2 29 to publish notice of the percentage in a newspaper of general
2 30 circulation in the county.
2 31 The bill defines "adjusted taxable valuation" as the
2 32 property valuation after the assessment limitation (i.e., the
2 33 rollback) and any equalization orders have been applied.
2 34 The bill applies to assessments for taxes due and payable
2 35 in the fiscal year beginning July 1, 2004, and all subsequent
3 1 fiscal years.
3 2 LSB 1136YH 80
3 3 sc/cf/24
Text: HF00001 Text: HF00003 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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