Iowa HF991 establishes property tax assessment limitations for commercial child care facilities, effective from January 1, 2025.

Iowa HF991 introduces property tax assessment limitations for commercial child care facilities. The bill specifies that the taxable value of these facilities will be calculated using the assessment limitation percentage applicable to residential property, multiplied by the property's actual value. This change applies retroactively to assessment years starting from January 1, 2025. The bill also outlines procedures for applying for these limitations, including deadlines for submitting applications and notifying the county auditor.

Iowa HF991 establishes property tax assessment limitations for commercial child care facilities, effective from January 1, 2025.

Iowa HF991 introduces property tax assessment limitations for commercial child care facilities. The bill specifies that the taxable value of these facilities will be calculated using the assessment limitation percentage applicable to residential property, multiplied by the property's actual value. This change applies retroactively to assessment years starting from January 1, 2025. The bill also outlines procedures for applying for these limitations, including deadlines for submitting applications and notifying the county auditor.