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Chickasaw County supervisors warned new state levy bill could cut local revenue growth
Summary
Supervisors discussed a proposed state bill that would limit local tax-asking growth to 2% plus new construction revenue and change assessment rules; county staff warned the measure could materially reduce future revenue and complicate tax software and valuation phases.
Chickasaw County supervisors raised alarms March 10 about a pair of bills filed in the Iowa Legislature that, if enacted, would change how counties set tax rates and calculate assessed values.
County staff summarized provisions that would cap local tax-asking growth at 2 percent plus revenue tied to new property value, redefine “new value,” and phase in assessment limits that would move many property classes to 100 percent assessment over five years. Staff said the changes also would alter homestead tax credit and other exemptions.
“The way I see this, all we’re doing is managing what we’ve asked today,” a county official said, summarizing projections. “If that bill does pass and is signed by the governor, the sheriff’s office is like half of that growth.”
Why…
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