Iowa HSB238 modifies property tax assessment to exclude certain aboveground storage tanks from being taxed as real property.

Iowa HSB238 amends the property tax assessment to exclude aboveground storage tanks that would ordinarily be removed when the property owner moves. This change applies to assessment years beginning on or after January 1, 2025, and retroactively affects past years. The bill also specifies that certain provisions regarding property tax credits do not apply to this Act.

Iowa HSB238 modifies property tax assessment to exclude certain aboveground storage tanks from being taxed as real property.

Iowa HSB238 amends the property tax assessment to exclude aboveground storage tanks that would ordinarily be removed when the property owner moves. This change applies to assessment years beginning on or after January 1, 2025, and retroactively affects past years. The bill also specifies that certain provisions regarding property tax credits do not apply to this Act.