(Greenfield) Iowa House Representative Ray Sorensen says Senate File 181 is a bill that would provide a technical fix to correct an error in taxing multi-residential properties. Sorensen says those properties skew the formula and cause single-family homeowners to pay more.
Sorensen says City Councils and county supervisors still have options; increase the levy rate, increase property tax bills, and increase revenue, using existing cash reserves, or spend less.
Sorensen says some options under consideration for controlling the growth of property taxes include setting stronger spending limitations, closing the honesty gap by ratcheting down levy rates, empowering taxpayers with direct notification of tax increases, tightening TIF, and abatement usage, and maximizing public input with November only bond elections.
