House Journal: Page 2146: Tuesday, June 3, 2003
14 Upon trial of any appeal from the action of the
15 board of review fixing the amount of assessment upon
16 any property or structure concerning which complaint
17 is made, the court may increase, decrease, or affirm
18 the amount of the assessment appealed from.
19 Sec. 16. Section 441.45, subsections 1 and 2, Code
20 2003, are amended to read as follows:
21 1. The number of acres of land and the aggregate
22 taxable values of the agricultural land, exclusive of
23 city lots, returned by the assessors, as corrected by
24 the board of review.
25 2. The aggregate values of structures and the
26 taxable square footage values of real estate
27 structures by class in each township and city in the
28 county and the aggregate value of agricultural land in
29 each township and city in the county, returned as
30 corrected by the board of review.
31 Sec. 17. Section 441.47, Code 2003, is amended by
32 adding the following new unnumbered paragraph:
33 NEW UNNUMBERED PARAGRAPH. For the assessment year
34 beginning January 1, 2007, and for all subsequent
35 assessment years, only property classified as
36 agricultural property and property assessed pursuant
37 to section 441.21, subsection 2, paragraph "b",
38 subparagraph (1), and subsection 3, paragraph "b",
39 subparagraph (1), shall be subject to equalization by
40 the director of revenue and finance under this section
41 and sections 441.48 and 441.49.
42 Sec. 18. NEW SECTION. 441.47a EQUALIZATION OF
43 INFLATION FACTORS.
44 The director of revenue and finance on or about
45 August 15, 2007, and every two years thereafter, shall
46 order the equalization of the assessed value per
47 square foot resulting from the application of the
48 cumulative inflation factor in the several assessing
49 jurisdictions in each case as may be necessary to
50 bring such values as fixed by the assessor in cases of
Page 14
1 purchases of property and newly constructed property
2 to the values determined for the assessment year
3 beginning January 1, 2005. In equalizing the effects
4 of the application of the cumulative inflation factor,
5 the department shall make use of reports issued by
6 Iowa state university of science and technology which
7 reports shall more precisely indicate, on a county-by-
8 county basis, annual and cumulative inflation factors
9 for each county. If the cumulative inflation factor
10 for an assessing jurisdiction as reported by Iowa
11 state university of science and technology is five
12 percent above or below the cumulative inflation factor
© 2003 Cornell College and
League of Women Voters of Iowa
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