Statewide Iowa (RI) — Democrats in the Iowa House are proposing a freeze on the property taxes Iowans 65 and older pay on their homes, plus a new limit on property tax increases.
Representative Dave Jacoby of Coralville says it would be a 4% annual limit on property tax increases.
Until that new limit would take effect in 2027, House Democrats propose $1,000 rebates for homeowners and $500 state rebates for renter in each of the next two years. Plus, the homestead credit would triple immediately.
Jacoby says limiting Iowans’ residential property tax increases to 4% of less would let cities, counties and public school districts maintain critical services.
Jacoby says a great percentage of Iowa seniors are on fixed incomes and a freeze on the property taxes they pay will help them stay in their homes.
House Minority Leader Brian Meyer says Democrats will propose a significant increase in the Iowa Finance Authority’s down payment assistance program for first-time homebuyers.
KIWA Staff Photo
