Senate File 39
SENATE FILE
BY BRUNKHORST
Passed Senate, Date Passed House, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to property tax assessments of subdivided
2 property and providing an applicability date.
3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
4 TLSB 1729SS 80
5 sc/cl/14
PAG LIN
1 1 Section 1. Section 441.72, Code 2003, is amended to read
1 2 as follows:
1 3 441.72 ASSESSMENT OF PLATTED LOTS.
1 4 When a subdivision plat is recorded pursuant to chapter
1 5 354, the individual lots within the subdivision plat shall not
1 6 be assessed in excess of the total assessment of the land as
1 7 acreage or unimproved property for three years after the
1 8 recording of the plat or until the lot is actually improved
1 9 with permanent construction, whichever occurs first. When an
1 10 individual lot has been improved with permanent construction,
1 11 the lot shall be assessed for taxation purposes as provided in
1 12 chapter 428 and this chapter. This section does not apply to
1 13 special assessment levies.
1 14 Sec. 2. APPLICABILITY. This Act applies to assessment
1 15 years beginning on or after January 1, 2004.
1 16 EXPLANATION
1 17 Currently, a platted lot for which a subdivision plat has
1 18 been recorded will be assessed for property tax purposes as
1 19 acreage or unimproved property for three years or until the
1 20 lot is actually improved with permanent construction,
1 21 whichever occurs first. This bill removes that time limit and
1 22 provides that a platted lot will be assessed as acreage or
1 23 unimproved property until the lot is actually improved with
1 24 permanent construction.
1 25 The bill applies to assessment years beginning on or after
1 26 January 1, 2004.
1 27 LSB 1729SS 80
1 28 sc/cl/14
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