Simon Conway

Simon Conway

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Will the Legislature's property tax 'fix' bring you real relief?

Property tax written in a notebook and calculator.

Photo: Getty Images

Seriously, this should have been the very first thing they tackled. Real property tax relief for the people of Iowa. They left it to the 11th hour and I'm not sure it's going to fix much of anything.

Yesterday afternoon, the Iowa senate passed a property tax bill with only one "no" vote from a Democrat. It eliminates two levies and converts veterans and seniors property tax credits to exemptions. It is also designed to make some taxing authorities cut spending. If signed into law, this Bill would cut about $100M in taxes.

A different property tax Bill providing $200M of relief, was passed in the Iowa House - also with one 'no' vote from a Democrat. This version caps residential and agricultural properties to 3% annual increases while allowing for 8% annual increases on commercial and industrial properties. It also moves all Bond increase votes to November.

“We have heard you as you stated that property taxes are easily the most unpopular tax that exists. We have heard you, that your bills and evaluations have exploded in growth,” Rep. Bobby Kaufmann said.

So now we have two different property tax bills. Negotiations have been long running between the two chambers as we heard from Rep. Kaufmann on the show this week. That means there will be compromise before both chambers can pass a Bill they agree on and send it to the Governor's desk.

I am not hopeful we will get anything meaningful. How about you? Do you think the Legislature's property tax 'fix' will bring you real relief?

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