House File 2104 - Introduced HOUSE FILE 2104 BY QUIRK (COMPANION TO SF 2029) A BILL FOR An Act relating to property assessment and property taxation by 1 creating a recreational class of property. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 TLSB 5121HH (1) 83 md/sc

H.F. 2104 Section 1. Section 441.21, Code Supplement 2009, is amended 1 by adding the following new subsection: 2 NEW SUBSECTION . 13. a. (1) For valuations established 3 for the assessment year beginning January 1, 2011, property 4 described in this subsection shall be valued as a separate 5 class of property called recreational property and shall be 6 assessed at ninety percent of its actual value. 7 (2) For valuations established for the assessment year 8 beginning January 1, 2012, through valuations established for 9 the assessment year beginning January 1, 2014, recreational 10 property shall be valued as a separate class of property and 11 shall be assessed at a percentage of actual value equal to the 12 percentage of actual value that the recreational property was 13 assessed in the previous assessment year minus ten percentage 14 points. 15 (3) For valuations established for the assessment year 16 beginning January 1, 2015, and each assessment year thereafter, 17 recreational property shall be valued as a separate class of 18 property and shall be assessed at fifty percent of its actual 19 value. 20 b. Recreational property is subject to reassessment by the 21 assessor and is subject to the same equalization percentage 22 amount determined by the director of revenue pursuant to 23 section 441.49 as is ordered for commercial property. 24 c. For purposes of this subsection, “recreational 25 property” means a golf course, downhill skiing area, campground, 26 amusement park, or water theme park, if such property is 27 operated as a commercial enterprise and otherwise subject to 28 taxation. 29 EXPLANATION 30 This bill creates a new class of property, recreational 31 property, for purposes of property assessment and taxation, 32 beginning with valuations established on or after January 1, 33 2011. The bill describes recreational property as a golf 34 course, downhill skiing area, campground, amusement park, or 35 -1- LSB 5121HH (1) 83 md/sc 1/ 2

H.F. 2104 water theme park, all of which are operated as a commercial 1 enterprise and are otherwise subject to taxation. 2 The bill provides that recreational property shall be 3 assessed for taxation at 90 percent of its actual value for 4 the assessment year beginning January 1, 2011. For valuations 5 established for the assessment year beginning January 1, 6 2012, through valuations established for the assessment 7 year beginning January 1, 2014, recreational property shall 8 be assessed at a percentage of actual value equal to the 9 percentage of actual value that the recreational property was 10 assessed in the previous assessment year minus 10 percentage 11 points. 12 For valuations established for the assessment year beginning 13 January 1, 2015, and each assessment year thereafter, 14 recreational property shall be assessed at 50 percent of its 15 actual value. 16 -2- LSB 5121HH (1) 83 md/sc 2/ 2