Property Tax Reform Is Ready For Iowa House Debate

(Des Moines) 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 bonds to 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.