Property Tax - Legislation

    2009 Iowa Property Tax-related Summaries

    HF 810 provides that small wind energy systems operating in a small wind innovation zone will be eligible for the renewable energy tax credit of one and one-half cents per kilowatt-hour of electricity. The small wind energy system must have a nameplate generating capacity of 100 kilowatts or less. HF 810 Summary

    HF 477 says Social Security Numbers and federal tax identification numbers on declaration of value forms are confidential and cannot be obtained by public inspection and that the Department of Revenue is responsible for keeping the Social Security Numbers and federal tax identification numbers confidential. HF 477 Summary

    SF 43 establishes new due date for religious, literary, and charitable societies that acquired property by gift or purchase but failed to file a timely claim for property tax exemption. SF 43 Summary

    SF 322-G The Director of Revenue has been required to complete the valuation of utility properties by the second Monday in July and certify the valuations to the county auditor by the third Monday in August. The legislation changes the completion of valuation of utility properties to October 31. For several years the Director has approved an extension that resulted in the valuations being due on October 31, so it codifies existing practices. SF 322-G Summary

    SF 456-B provides for an expanded income tax credit for wind energy. This legislation makes locally assessed wind towers eligible for the income tax credit under 476B. If the tower(s) are assessed locally under 427B.26, they do not need approval from the board of supervisors. If the tower is assessed under 441.21, an application and approval by the board of supervisors is required. SF 456-B Summary

    SF 457-A allows local governments to establish disaster revitalization areas by ordinance in areas that have been declared disaster areas by the Governor or President. The local government can provide for an exemption of the value increases over the January 1, 2007, assessment, for a 5-year period, for no more than 100 percent of the increase if the improvements are made between May 25, 2008, and December 31, 2013. SF 457-A Summary

    SF 478-R This is bill for exemption for data centers with at least 5,000 square feet and an investment of over $200 million in an Iowa physical location. Application is made to the assessor by February 1. The Iowa Department of Revenue will determine if the project meets the established criteria. SF 478-R Summary

    SF 478-U expanded the methane gas exemption to include the entire facility. If the facility is not used in conjunction with a publicly-owned land fill limits the exemption to 10 years. To qualify, the facility must be placed in service on or after January 1, 2008, and on or before December 31, 2012. SF 478-U Summary

Property Tax Main Menu