Iowa Lawmakers’ Property Tax Calculation Error Could Force City Governments To Redo Budgets

(Des Moines, IA) Iowa’s lawmakers are looking to fix an error in the formula that calculates property tax rates. Due to a miswritten bill in the 2021 session, property owners could pay hundreds of dollars more in property taxes than initially intended. A Senate bill would correct the error for taxpayers but would reduce cities’ and counties’ projected income, most of which created budgets and contracts based on the error.