Modifies local government property tax rates, assessment limitations, and fund transfers.

This bill amends various provisions related to local government property taxes, financial authority, and budgets in Iowa. It modifies the assessment percentages for residential, multiresidential, and agricultural property, and introduces new assessment percentages for commercial property. The bill also adjusts the levy rates for school districts, cities, and counties, and modifies the homestead credit and exemption criteria. Additionally, it establishes a methodology to determine maximum levy rates for cities not imposing a general fund levy.

Modifies local government property tax rates, assessment limitations, and fund transfers.

This bill amends various provisions related to local government property taxes, financial authority, and budgets in Iowa. It modifies the assessment percentages for residential, multiresidential, and agricultural property, and introduces new assessment percentages for commercial property. The bill also adjusts the levy rates for school districts, cities, and counties, and modifies the homestead credit and exemption criteria. Additionally, it establishes a methodology to determine maximum levy rates for cities not imposing a general fund levy.