Iowa HSB316 modifies property tax assessment for commercial child care facilities.

Iowa HSB316 modifies property tax assessment for commercial child care facilities by excluding them from the calculation of the actual value of the property. The bill specifies that for assessment years beginning on or after January 1, 2025, the amount of actual value used as child care facilities that is subject to tax is equal to the product of the assessment limitation percentage applicable to residential property.

Iowa HSB316 modifies property tax assessment for commercial child care facilities.

Iowa HSB316 modifies property tax assessment for commercial child care facilities by excluding them from the calculation of the actual value of the property. The bill specifies that for assessment years beginning on or after January 1, 2025, the amount of actual value used as child care facilities that is subject to tax is equal to the product of the assessment limitation percentage applicable to residential property.