State Senate Discuses Plan To Cut Property Taxes
Recently, the State Senate has discussed cut to property taxes. New property assessments were released to property owners around the state recently. Those assessments rose significantly, in various parts of the state some areas saw an increase as large as 13%. Property assessments and local levy rates determine property taxes paid by Iowans.
This session, Senate file 587 has been introduced. SF 587 would eliminate the property tax levy on mental health and shift the funding to the state level.
State Senator Jesse Green of Harcourt said, “eliminating this levy would result in over 100 million dollars in reduced property taxes. The elimination of the levy would reduce increased property taxes when assessments rise”.
Green went on to say “property tax increases are especially difficult for many Iowans. Seniors on a fixed income, frequently don’t have an increase in income to pay additional taxes. High property taxes are a hurdle for new home buyers working to attain the American dream of home ownership. Permamnent and reliable tax relief is a positive pro-growth solution for many Iowans. “