Senate File 245 - Introduced



                                       SENATE FILE       
                                       BY  ZIEMAN


    Passed Senate, Date               Passed House, Date              
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act creating a recreational class of property for purposes of
  2    property assessment and taxation.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 2649XS 82
  5 sc/gg/14

PAG LIN



  1  1    Section 1.  Section 441.21, Code 2007, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  13.  Beginning with valuations established
  1  4 on or after January 1, 2008, property described in this
  1  5 subsection shall be valued as a separate class of property
  1  6 called recreational property and shall be assessed at twenty=
  1  7 five percent of its actual value.  Recreational property is
  1  8 subject to reassessment by the assessor and is subject to the
  1  9 same equalization percentage amount determined by the director
  1 10 of revenue pursuant to section 441.49 as is ordered for
  1 11 commercial property.
  1 12    For purposes of this subsection, "recreational property"
  1 13 means a golf course, downhill skiing area, amusement park,
  1 14 water theme park, or recreational vehicle park or campground,
  1 15 if such property is operated as a commercial enterprise and
  1 16 otherwise subject to taxation.
  1 17                           EXPLANATION
  1 18    This bill creates a new class of property, recreational
  1 19 property, for purposes of property assessment and taxation,
  1 20 beginning with valuations established on or after January 1,
  1 21 2008.  The bill describes recreational property as a golf
  1 22 course, downhill skiing area, amusement park, water theme
  1 23 park, or recreational vehicle park or campground, all of which
  1 24 are operated as a commercial enterprise and are otherwise
  1 25 subject to taxation.  The bill provides that recreational
  1 26 property shall be assessed for taxation at 25 percent of its
  1 27 actual value.
  1 28 LSB 2649XS 82
  1 29 sc:nh/gg/14