Text: HF02142 Text: HF02144 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 441.21, subsection 4, Code Supplement
1 2 2003, is amended by adding the following new unnumbered
1 3 paragraph:
1 4 NEW UNNUMBERED PARAGRAPH. For valuations established as of
1 5 January 1, 2004, and each year thereafter, the percentage of
1 6 actual value, as equalized by the director of revenue as
1 7 provided in section 441.49, at which residential property
1 8 shall be assessed shall not be less than fifty percent. If
1 9 the percentage of actual value of residential property as
1 10 calculated in accordance with this subsection is less than
1 11 fifty percent, the director of revenue shall increase the
1 12 percentage to fifty percent. For purposes of determining
1 13 valuations in the assessment year beginning January 1, 2005,
1 14 and for each subsequent assessment year, the actual percentage
1 15 for the prior year as determined under this subsection before
1 16 adjustment under this paragraph, if necessary, shall be the
1 17 percentage used in making the calculation of the dividend for
1 18 that assessment year.
1 19 EXPLANATION
1 20 This bill specifies that the percentage of actual value at
1 21 which residential property may be assessed shall not be
1 22 reduced below 50 percent beginning with assessments made
1 23 January 1, 2004, for taxes payable in FY 2005-2006.
1 24 LSB 6002HH 80
1 25 mg/sh/8.1
Text: HF02142 Text: HF02144 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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