House File 107 - Introduced HOUSE FILE 107 BY HEATON A BILL FOR An Act relating to the classification and taxation of certain 1 property used for human habitation as residential property. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 TLSB 1760YH (2) 85 md/sc

H.F. 107 Section 1. Section 441.21, Code 2013, is amended by adding 1 the following new subsection: 2 NEW SUBSECTION . 13. a. Beginning with valuations 3 established on or after January 1, 2014, as used in this 4 section, “residential property” includes that portion of a 5 building or structure situated on the stories above the ground 6 floor that is used for human habitation and a proportionate 7 share of the land upon which the building or structure is 8 situated, even if the use for human habitation is not the 9 primary use of the building or structure, if the building or 10 structure consists of three or fewer stories above grade and 11 not less than seventy-five percent of the structural components 12 of the building or structure are more than thirty years old. 13 b. The assessor may assign more than one classification 14 to a parcel of property satisfying the requirements of this 15 subsection. In no case, however, shall a hotel, motel, inn, or 16 other building or structure where rooms are usually rented for 17 less than one month be classified as residential property under 18 this subsection. 19 c. For the purposes of this subsection, “structural 20 components” means footings, foundations, columns, load-bearing 21 walls, beams, girders, rafters, joists, trusses, lateral 22 bracing, and all other components of a building or structure 23 that are essential to the structural stability of the building 24 or structure as a whole. 25 EXPLANATION 26 This bill provides that beginning with valuations 27 established on or after January 1, 2014, residential property 28 includes that portion of a building or structure situated 29 on stories above the ground floor that is used for human 30 habitation and a proportionate share of the land upon which the 31 building or structure is situated, even if the use for human 32 habitation is not the primary use of the building or structure, 33 if the building or structure consists of three or fewer stories 34 above grade and not less than 75 percent of the structural 35 -1- LSB 1760YH (2) 85 md/sc 1/ 2

H.F. 107 components of the building or structure are more than 30 years 1 old. The bill defines “structural components”. The bill 2 allows the assessor to assign more than one classification to 3 a parcel of property satisfying the requirements of the bill. 4 The bill excludes a hotel, motel, inn, or other building or 5 structure where rooms are usually rented for less than one 6 month from being classified as residential property under the 7 bill. 8 -2- LSB 1760YH (2) 85 md/sc 2/ 2