House File 126 - Introduced



                                       HOUSE FILE       
                                       BY  STRUYK


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

                                      A BILL FOR

  1 An Act relating to classification and assessment of property for
  2    purposes of property taxation and including effective date and
  3    retroactive applicability date provisions.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 1550YH 83
  6 md/sc/8

PAG LIN



  1  1    Section 1.  Section 441.21, subsection 1, paragraph a, Code
  1  2 2009, is amended to read as follows:
  1  3    a.  All property subject to taxation shall be valued at its
  1  4 actual value which shall be entered opposite each item, and,
  1  5 except as otherwise provided in this section, shall be
  1  6 assessed at one hundred percent of its actual value, and the
  1  7 value so assessed shall be taken and considered as the
  1  8 assessed value and taxable value of the property upon which
  1  9 the levy shall be made.  All property subject to taxation
  1 10 shall be classified and valued, for purposes of assessment
  1 11 under this section, based on its primary use by the present
  1 12 owner of the property or, if leased, by the present lessee of
  1 13 the property, as of January 1 of the assessment year.
  1 14    Sec. 2.  EFFECTIVE AND APPLICABILITY DATES.  This Act,
  1 15 being deemed of immediate importance, takes effect upon
  1 16 enactment and applies retroactively to January 1, 2009, for
  1 17 assessment years beginning on or after that date.
  1 18                           EXPLANATION
  1 19    This bill provides that property assessed for purposes of
  1 20 property taxation shall be classified and assessed based on
  1 21 the primary use of the owner or lessee as of January 1 of the
  1 22 assessment year.
  1 23    The bill takes effect upon enactment and applies
  1 24 retroactively to January 1, 2009, for assessment years
  1 25 beginning on or after that date.
  1 26 LSB 1550YH 83
  1 27 md/sc/8