Senate File 295 S-3152 Amend Senate File 295 as follows: 1 1. Page 8, after line 30 by inserting: 2 < Sec. ___. Section 441.21, subsection 4, Code 2013, 3 is amended to read as follows: 4 4. For valuations established as of January 5 1, 1979, the percentage of actual value at which 6 agricultural and residential property shall be assessed 7 shall be the quotient of the dividend and divisor as 8 defined in this section . The dividend for each class 9 of property shall be the dividend as determined for 10 each class of property for valuations established as 11 of January 1, 1978, adjusted by the product obtained 12 by multiplying the percentage determined for that year 13 by the amount of any additions or deletions to actual 14 value, excluding those resulting from the revaluation 15 of existing properties, as reported by the assessors 16 on the abstracts of assessment for 1978, plus six 17 percent of the amount so determined. However, if the 18 difference between the dividend so determined for 19 either class of property and the dividend for that 20 class of property for valuations established as of 21 January 1, 1978, adjusted by the product obtained by 22 multiplying the percentage determined for that year 23 by the amount of any additions or deletions to actual 24 value, excluding those resulting from the revaluation 25 of existing properties, as reported by the assessors 26 on the abstracts of assessment for 1978, is less than 27 six percent, the 1979 dividend for the other class of 28 property shall be the dividend as determined for that 29 class of property for valuations established as of 30 January 1, 1978, adjusted by the product obtained by 31 multiplying the percentage determined for that year 32 by the amount of any additions or deletions to actual 33 value, excluding those resulting from the revaluation 34 of existing properties, as reported by the assessors on 35 the abstracts of assessment for 1978, plus a percentage 36 of the amount so determined which is equal to the 37 percentage by which the dividend as determined for the 38 other class of property for valuations established as 39 of January 1, 1978, adjusted by the product obtained 40 by multiplying the percentage determined for that year 41 by the amount of any additions or deletions to actual 42 value, excluding those resulting from the revaluation 43 of existing properties, as reported by the assessors 44 on the abstracts of assessment for 1978, is increased 45 in arriving at the 1979 dividend for the other class 46 of property. The divisor for each class of property 47 shall be the total actual value of all such property 48 in the state in the preceding year, as reported by the 49 assessors on the abstracts of assessment submitted 50 -1- SF295.1649 (3) 85 md/sc 1/ 3 #1.

for 1978, plus the amount of value added to said 1 total actual value by the revaluation of existing 2 properties in 1979 as equalized by the director of 3 revenue pursuant to section 441.49 . The director shall 4 utilize information reported on abstracts of assessment 5 submitted pursuant to section 441.45 in determining 6 such percentage. For valuations established as of 7 January 1, 1980, and each assessment year thereafter 8 beginning before January 1, 2013 , the percentage of 9 actual value as equalized by the director of revenue 10 as provided in section 441.49 at which agricultural 11 and residential property shall be assessed shall be 12 calculated in accordance with the methods provided 13 herein including the limitation of increases in 14 agricultural and residential assessed values to the 15 percentage increase of the other class of property if 16 the other class increases less than the allowable limit 17 adjusted to include the applicable and current values 18 as equalized by the director of revenue, as provided in 19 this section, Code 2013, except that any references to 20 six percent in this subsection shall be four percent. 21 For valuations established for the assessment year 22 beginning January 1, 2013, and each assessment year 23 thereafter, the percentage of actual value as equalized 24 by the director of revenue as provided in section 25 441.49 at which agricultural and residential property 26 shall be assessed shall be calculated in accordance 27 with the methods provided in this subsection, except 28 that any references to six percent in this subsection 29 shall be zero percent. > 30 2. Page 9, after line 3 by inserting: 31 < Sec. ___. RETROACTIVE APPLICABILITY. The 32 section of this Act amending section 441.21 applies 33 retroactively to January 1, 2013, for assessment years 34 beginning on or after that date. > 35 3. Title page, line 1, after < Act > by inserting 36 < relating to property taxation by > 37 4. Title page, by striking line 3 and inserting 38 < making appropriations, modifying property assessment 39 limitations, and including implementation, retroactive 40 applicability, and other > 41 5. By renumbering as necessary. 42 ______________________________ MARK CHELGREN ______________________________ JACK WHITVER -2- SF295.1649 (3) 85 md/sc 2/ 3 #2. #3. #4. #5.