Iowa HF2188 modifies real estate transfer tax rules, expanding exemptions for certain declarations of value.

Iowa HF2188 amends real estate transfer tax regulations by expanding the categories exempt from the declaration of value requirement. This includes instruments related to corporate mergers, consolidations, or reorganizations, and deeds between family corporations or partnerships without consideration. A declaration of value is still required for multiple parcels in different counties and for federal agencies or eminent domain acquisitions. The bill ensures that certain instruments, such as those for no-consideration transfers, remain exempt from the declaration of value.

Iowa HF2188 modifies real estate transfer tax rules, expanding exemptions for certain declarations of value.

Iowa HF2188 amends real estate transfer tax regulations by expanding the categories exempt from the declaration of value requirement. This includes instruments related to corporate mergers, consolidations, or reorganizations, and deeds between family corporations or partnerships without consideration. A declaration of value is still required for multiple parcels in different counties and for federal agencies or eminent domain acquisitions. The bill ensures that certain instruments, such as those for no-consideration transfers, remain exempt from the declaration of value.