House File 96
HOUSE FILE
BY COMMITTEE ON WAYS AND MEANS
(SUCCESSOR TO HF 2)
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to the percentage of property valuation in each
2 county and city that is subject to the ad valorem property tax
3 and providing for the Act's applicability.
4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
5 TLSB 1136HV 80
6 sc/cf/24
PAG LIN
1 1 Section 1. NEW SECTION. 443.1A DETERMINATION OF
1 2 PERCENTAGE OF ADJUSTED TAXABLE VALUE.
1 3 1. On or before January 15 of each year, the board of
1 4 supervisors of each county and the city council of each city
1 5 shall, by resolution, determine the percentage of the adjusted
1 6 taxable value that will be subject to the ad valorem property
1 7 tax levy payable in the following fiscal year. The same
1 8 percentage shall be applied to all classes of property. The
1 9 board and each city council shall certify such percentage to
1 10 the county auditor.
1 11 For purposes of the city levy, the amount of value in
1 12 section 403.19, subsections 1 and 2, shall be adjusted by the
1 13 same percentage. For purposes of the county levy, the amount
1 14 of value in section 403.19, subsections 1 and 2, shall be
1 15 adjusted by the same percentage.
1 16 Notice of the percentage of adjusted taxable value subject
1 17 to the ad valorem property tax levy payable in the following
1 18 fiscal year for the county and for each city shall be
1 19 published by the auditor in a newspaper of general circulation
1 20 in the county on or before the following March 15. The notice
1 21 shall read as follows:
1 22 "State law allows the (board of supervisors or city
1 23 council, as applicable) to set the percentage of the property
1 24 tax assessed value that will be subject to property tax, after
1 25 application of the state rollback and equalization. For taxes
1 26 due and payable in the fiscal year beginning July 1, (year),
1 27 the percentage of assessed value subject to the (county or
1 28 city, as applicable) property tax levy will be (insert
1 29 percentage)."
1 30 2. For purposes of this section, "adjusted taxable value"
1 31 means the taxable value after the assessment limitation in
1 32 section 441.21 has been applied and after the equalization
1 33 order in section 441.47 has been applied.
1 34 Sec. 2. Section 443.2, unnumbered paragraph 2, Code 2003,
1 35 is amended to read as follows:
2 1 The county auditor shall list the aggregate actual value
2 2 and the aggregate taxable value of all taxable property within
2 3 the county and each political subdivision including property
2 4 subject to the statewide property tax imposed under section
2 5 437A.18 on the tax list in order that the actual value of the
2 6 taxable property within the county or a political subdivision
2 7 may be ascertained and shown by the tax list for the purpose
2 8 of computing the debt=incurring capacity of the county or
2 9 political subdivision. As used in this section, "actual
2 10 value" is the value determined under section 441.21,
2 11 subsections 1 to 3, prior to the reduction to a percentage of
2 12 actual value as otherwise provided in section 441.21 and prior
2 13 to any reduction approved under section 443.1A. "Actual
2 14 value" of property subject to statewide property tax is the
2 15 assessed value under section 437A.18.
2 16 Sec. 3. Section 443.2, Code 2003, is amended by adding the
2 17 following new unnumbered paragraph:
2 18 NEW UNNUMBERED PARAGRAPH. For the county and each city in
2 19 the county, the auditor shall include, in a separate column,
2 20 the percentage of adjusted taxable value that will be subject
2 21 to the ad valorem property tax as that percentage is certified
2 22 by the board of supervisors and the city council of each city
2 23 pursuant to section 443.1A.
2 24 Sec. 4. APPLICABILITY. This Act applies to assessments
2 25 for taxes due and payable in the fiscal year beginning July 1,
2 26 2004, and all subsequent fiscal years.
2 27 EXPLANATION
2 28 This bill requires the county board of supervisors and the
2 29 city council to adopt a resolution on or before January 15 of
2 30 each year indicating the percentage of adjusted taxable value
2 31 that will be subject to the ad valorem property tax in the
2 32 following fiscal year. The boards and city councils shall
2 33 certify the percentage to the county auditor, who is required
2 34 to publish notice of the percentage in a newspaper of general
2 35 circulation in the county.
3 1 The bill defines "adjusted taxable valuation" as the
3 2 property valuation after the assessment limitation (i.e., the
3 3 rollback) and any equalization orders have been applied.
3 4 The bill applies to assessments for taxes due and payable
3 5 in the fiscal year beginning July 1, 2004, and all subsequent
3 6 fiscal years.
3 7 LSB 1136HV 80
3 8 sc/cf/24