Allows certain Iowa school districts to increase cash reserve levy if taxable value correction reduced property taxes by $100 million or more.

The bill permits Iowa school districts to increase their cash reserve levy for the school budget year beginning July 1, 2026, if the taxable value correction reduced property taxes by $100 million or more during the previous school budget year. To comply with the bill, the district must reduce other property tax levies by an equal or greater amount, ensuring the total property tax dollars do not exceed the previous year's total. The Department of Management will adjust the district's property tax levy rates as necessary.

Allows certain Iowa school districts to increase cash reserve levy if taxable value correction reduced property taxes by $100 million or more.

The bill permits Iowa school districts to increase their cash reserve levy for the school budget year beginning July 1, 2026, if the taxable value correction reduced property taxes by $100 million or more during the previous school budget year. To comply with the bill, the district must reduce other property tax levies by an equal or greater amount, ensuring the total property tax dollars do not exceed the previous year's total. The Department of Management will adjust the district's property tax levy rates as necessary.