Property Tax Reform Is Ready For Iowa House Debate

(Des Moines, IA) — Property tax reform is ready for debate in the Iowa House. The proposal would cap residential and agricultural annual property tax increases at three-percent, reduce the school foundation property tax levy, and require all bond be voted on general election day. The state of Iowa would see a 204 million dollar cut in revenue from the levy reduction. The proposal also caps annual property tax increases for commercial and industrial annual property tax increases at 8-percent.