Senate File 363 - Introduced



                                       SENATE FILE       
                                       BY  BEALL and DOTZLER


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

                                      A BILL FOR

  1 An Act relating to assessment of certain recreational property
  2    for purposes of property taxation.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 2485XS 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 ninety
  1  7 percent of its actual value.  Recreational property is subject
  1  8 to reassessment by the assessor and is subject to the same
  1  9 equalization percentage amount determined by the director of
  1 10 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, outdoor volleyball
  1 14 park, or softball park, if such property is operated as a
  1 15 commercial enterprise and otherwise subject to taxation.
  1 16                           EXPLANATION
  1 17    This bill creates a new class of property, recreational
  1 18 property, for purposes of property assessment and taxation,
  1 19 beginning with valuations established on or after January 1,
  1 20 2008.  The bill describes recreational property as a golf
  1 21 course, downhill skiing area, outdoor volleyball park, or
  1 22 softball park, all of which are operated as a commercial
  1 23 enterprise and are otherwise subject to taxation.  The bill
  1 24 provides that recreational property shall be assessed for
  1 25 taxation at 90 percent of its actual value.
  1 26 LSB 2485XS 82
  1 27 sc:nh/gg/14