499B.11  Real property tax and special assessments--levy on each apartment.

1.  All real property taxes and special assessments shall be assessed and levied on each apartment and its respective appurtenant fractional share or percentage of the land, general common elements and limited common elements where applicable as such apartments and appurtenances are separately owned, and not on the entire horizontal property regime.

2.  An apartment meeting either of the following conditions shall be classified as follows:

a.  An apartment used for human habitation on January 1, 1999, or an apartment intended for use for human habitation in a horizontal property regime pursuant to a declaration submitting a parcel of real property to a horizontal property regime pursuant to section 499B.3, which was recorded prior to January 1, 1999, shall be classified as residential real estate as long as the apartment is used for human habitation.

b.  An apartment intended for use for human habitation included in a development plan for a horizontal property regime which was approved by the city or county having jurisdiction over the real property included in the development plan prior to January 1, 1999, and which is included substantially in accordance with the development plan in an extension of a horizontal property regime established pursuant to a declaration submitting a parcel of contiguous real estate to a horizontal property regime pursuant to section 499B.3, which was recorded prior to January 1, 1999, shall be classified as residential real estate as long as the apartment is used for human habitation.

c.  This subsection is repealed December 31, 2004.

3.  Any exemption from taxes that may exist on real property or the ownership thereof shall not be denied by virtue of the registration of the property under the provisions of this chapter.

Section History: Early form

  [C66, 71, 73, 75, 77, 79, 81, § 499B.11]

Section History: Recent form

  99 Acts, ch 187, §1, 2


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