House Study Bill 206 - Introduced HOUSE FILE _____ BY (PROPOSED COMMITTEE ON LOCAL GOVERNMENT BILL BY CHAIRPERSON SCHULTZ) A BILL FOR An Act relating to the classification of property as 1 agricultural property for property tax purposes and 2 including applicability provisions. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2483YC (2) 85 md/sc

H.F. _____ Section 1. Section 441.19, Code 2013, is amended by adding 1 the following new subsection: 2 NEW SUBSECTION . 3. For property to be classified and valued 3 as agricultural property for assessment and taxation purposes, 4 a taxpayer must file an affidavit with the assessor on or 5 before February 15 of each assessment year stating that the 6 land is agricultural property. The affidavit shall include 7 a copy of the taxpayer’s schedule F form or internal revenue 8 service form 4835 for the most recent tax year, as defined in 9 section 442.4, if the taxpayer was required to complete such 10 forms for the most recent tax year. The assessor may require 11 that the affidavit include a supplemental return made pursuant 12 to this section for all tracts of land and improvements and 13 structures located on the land which are in good faith used 14 primarily for agricultural purposes, except buildings which are 15 primarily used or intended for human habitation. The schedule 16 F or form 4835 submitted pursuant to this subsection shall 17 be confidential to the assessor, board of review, property 18 assessment appeal board, or director of revenue, and shall not 19 be open to public inspection. 20 Sec. 2. APPLICABILITY. This Act applies to assessment years 21 beginning on or after January 1, 2014. 22 EXPLANATION 23 This bill provides that for property to be classified and 24 valued as agricultural property for assessment and taxation 25 purposes, a taxpayer must file an affidavit with the assessor 26 on or before February 15 of each assessment year stating 27 that the land is agricultural property. The bill requires 28 the affidavit to include a copy of the taxpayer’s schedule 29 F form (“Profit or Loss from Farming”) or internal revenue 30 service form 4835 (“Farm Rental Income and Expenses”) for the 31 most recent tax year if the taxpayer was required to complete 32 such forms for the most recent tax year and the assessor may 33 require a supplemental return for such tracts of land pursuant 34 to the provisions of current Code section 441.19(1). The 35 -1- LSB 2483YC (2) 85 md/sc 1/ 2

H.F. _____ bill provides that the schedule F or form 4835 submitted to 1 the assessor shall be confidential to the assessor, board 2 of review, property assessment appeal board, or director of 3 revenue, and shall not be open to public inspection. 4 The bill applies to assessment years beginning on or after 5 January 1, 2014. 6 -2- LSB 2483YC (2) 85 md/sc 2/ 2