Text: HSB00032 Text: HSB00034 Text: HSB00000 - HSB00099 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 441.21, subsection 1, paragraph e, Code
1 2 2003, is amended to read as follows:
1 3 e. The actual value of agricultural property shall be
1 4 determined on the basis of productivity and net earning
1 5 capacity of the property determined on the basis of its use
1 6 for agricultural purposes capitalized at a rate of seven
1 7 percent and applied uniformly among counties and among classes
1 8 of property. Beginning with valuations established as of
1 9 January 1, 2004, the productivity and net earning capacity of
1 10 agricultural land on which row crops have not been planted
1 11 during any of the previous seven calendar years shall be based
1 12 solely on the basis of its use during the previous calendar
1 13 year. Any formula or method employed to determine
1 14 productivity and net earning capacity of property shall be
1 15 adopted in full by rule.
1 16 Sec. 2. APPLICABILITY DATE. This Act applies to
1 17 assessment years beginning on or after January 1, 2004.
1 18 EXPLANATION
1 19 This bill requires agricultural land on which row crops
1 20 have not been planted for seven years to be valued based upon
1 21 its use during the previous calendar year. Present law values
1 22 agricultural land based upon its use for row crops.
1 23 The bill applies to valuations beginning as of January 1,
1 24 2004.
1 25 LSB 1274YC 80
1 26 mg/sh/8
Text: HSB00032 Text: HSB00034 Text: HSB00000 - HSB00099 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
© 2003 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Tue Feb 18 11:45:08 CST 2003
URL: /DOCS/GA/80GA/Legislation/HSB/00000/HSB00033/030123.html
jhf