House Journal: Page 1342: Thursday, April 24, 2003
2 "c. Buildings for human habitation that are used
3 as commercial ventures, including but not limited to
4 hotels, motels, rest homes, and structures containing
5 three or more separate living quarters shall not be
6 considered residential property."
7 7. Page 10, line 25, by inserting after the word
8 "assessment." the following: "The notification shall
9 include a supplemental return form for the person to
10 list the person's property and any additions or
11 modifications completed in the prior year to a
12 structure located on the property, as required in
13 section 441.19."
14 8. Page 11, by striking lines 30 through 32, and
15 inserting the following: "the number of structures,
16 and the total square footage of the structures by
17 class of property, and showing the values affixed to
18 agricultural land and the assessed value per square
19 foot affixed to the property the structures by class
20 of property of all".
21 9. Page 15, by inserting after line 21, the
22 following:
23 "Sec. . NEW SECTION. 441.47A EQUALIZATION OF
24 INFLATION FACTORS.
25 The director of revenue and finance on or about
26 August 15, 2007, and every two years thereafter, shall
27 order the equalization of the assessed value per
28 square foot resulting from the application of the
29 cumulative inflation factor in the several assessing
30 jurisdictions in each case as may be necessary to
31 bring such values as fixed by the assessor in cases of
32 purchases of property and newly constructed property
33 to the values determined for the assessment year
34 beginning January 1, 2005. In equalizing the effects
35 of the application of the cumulative inflation factor,
36 the department shall make use of reports issued by
37 Iowa state university of science and technology which
38 reports shall more precisely indicate, on a county-by-
39 county basis, annual and cumulative inflation factors
40 for each county. If the cumulative inflation factor
41 for an assessing jurisdiction as reported by Iowa
42 state university of science and technology is five
43 percent above or below the cumulative inflation factor
44 as defined in section 441.21, subsection 7, the
45 director shall notify the assessor by mail of the
46 equalization of the effects of the cumulative
47 inflation factor for the assessing jurisdiction. The
48 assessor shall recompute the assessments made pursuant
49 to section 441.21, subsection 3, paragraph "b",
50 subparagraph (1), subsection 4, paragraph "b",
Page 3
1 subparagraph (1), and subsection 5, paragraph "b",
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League of Women Voters of Iowa
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