House File 147 - Introduced



                                       HOUSE FILE       
                                       BY  STRUYK, HUSER, and
                                           FORRISTALL


    Passed House, Date               Passed Senate, 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 1554YH 83
  5 md/sc/14

PAG LIN



  1  1    Section 1.  Section 441.21, Code 2009, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  13.  a.  Beginning with valuations
  1  4 established on or after January 1, 2010, property described in
  1  5 this subsection shall be valued as a separate class of
  1  6 property called recreational property and shall be assessed at
  1  7 twenty=five percent of its actual value.  Recreational
  1  8 property is subject to reassessment by the assessor and is
  1  9 subject to the same equalization percentage amount determined
  1 10 by the director of revenue pursuant to section 441.49 as is
  1 11 ordered for commercial property.
  1 12    b.  For purposes of this subsection, "recreational
  1 13 property" means a golf course, downhill skiing area, amusement
  1 14 park, or water theme 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 2010.  The bill describes recreational property as a golf
  1 21 course, downhill skiing area, amusement park, or water theme
  1 22 park, all of which are operated as a commercial enterprise and
  1 23 are otherwise subject to taxation.  The bill provides that
  1 24 recreational property shall be assessed for taxation at 25
  1 25 percent of its actual value.
  1 26 LSB 1554YH 83
  1 27 md/sc/14