House
File
655
-
Reprinted
HOUSE
FILE
655
BY
COMMITTEE
ON
WAYS
AND
MEANS
(SUCCESSOR
TO
HF
300)
(SUCCESSOR
TO
HSB
56)
(As
Amended
and
Passed
by
the
House
March
30,
2011
)
A
BILL
FOR
An
Act
relating
to
the
assessment
of
certain
subdivided
real
1
property
and
including
effective
date
and
retroactive
2
applicability
and
other
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
HF
655
(5)
84
md/sc/mb
H.F.
655
Section
1.
Section
405.1,
Code
2011,
is
amended
to
read
as
1
follows:
2
405.1
Housing
development
——
tax
status
——
limitation.
3
1.
The
board
of
supervisors
of
a
county
with
a
population
4
of
less
than
twenty
thousand
may
adopt
an
ordinance
providing
5
that
property
acquired
and
subdivided
for
development
of
6
housing
shall
continue
to
be
assessed
for
taxation
in
the
7
manner
that
it
was
prior
to
the
acquisition
for
housing.
Each
8
lot
shall
continue
to
be
taxed
in
the
manner
it
was
prior
9
to
its
acquisition
for
housing
until
the
lot
is
sold
for
10
construction
or
occupancy
of
housing
or
five
years
from
the
11
date
of
subdivision,
whichever
is
shorter.
Upon
the
sale
or
12
the
expiration
of
the
five-year
period,
the
property
shall
be
13
assessed
for
taxation
as
residential
or
commercial
multifamily
14
property,
whichever
is
applicable
actually
improved
with
a
15
residential
structure
.
16
2.
The
board
of
supervisors
of
a
county
with
a
population
17
of
twenty
thousand
or
more
may
adopt
an
ordinance
providing
18
that
property
acquired
and
subdivided
for
development
of
19
housing
shall
continue
to
be
assessed
for
taxation
in
the
20
manner
that
it
was
prior
to
the
acquisition
for
housing.
Each
21
lot
shall
continue
to
be
taxed
in
the
manner
it
was
prior
22
to
its
acquisition
for
housing
until
the
lot
is
sold
for
23
construction
or
occupancy
of
housing
or
three
years
from
the
24
date
of
subdivision,
whichever
is
shorter.
Upon
the
sale
or
25
the
expiration
of
the
three-year
period,
the
property
shall
be
26
assessed
for
taxation
as
residential
or
commercial
multifamily
27
property,
whichever
is
applicable.
28
Sec.
2.
Section
441.72,
Code
2011,
is
amended
to
read
as
29
follows:
30
441.72
Assessment
of
platted
lots.
31
When
a
subdivision
plat
is
recorded
pursuant
to
chapter
32
354
,
the
individual
lots
within
the
subdivision
plat
shall
33
not
be
assessed
in
excess
of
the
total
assessment
of
the
34
land
as
acreage
or
unimproved
property
for
three
years
after
35
-1-
HF
655
(5)
84
md/sc/mb
1/
2
H.F.
655
the
recording
of
the
plat
or
until
the
lot
is
actually
1
improved
with
a
permanent
construction,
whichever
occurs
2
first
residential,
industrial,
or
commercial
structure
.
When
an
3
individual
lot
has
been
improved
with
a
permanent
construction
4
residential,
industrial,
or
commercial
structure
,
the
lot
shall
5
be
assessed
for
taxation
purposes
as
provided
in
chapter
428
6
and
this
chapter
.
This
section
does
not
apply
to
special
7
assessment
levies.
8
Sec.
3.
EFFECTIVE
UPON
ENACTMENT
AND
APPLICABILITY.
This
9
Act,
being
deemed
of
immediate
importance,
takes
effect
upon
10
enactment,
applies
to
subdivision
plats
recorded
on
or
after
11
January
1,
2004,
and
applies
retroactively
to
assessment
years
12
beginning
on
or
after
January
1,
2011.
13
-2-
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655
(5)
84
md/sc/mb
2/
2