Statewide Iowa (RI) — House Speaker Pat Grassley says House Republicans are planning to release their plan for changing Iowa’s residential property tax system this week.
As you may recall, Senate Republicans and Governor Kim Reynolds released their plans last week. Reynolds says it’s way too early to predict what property tax changes might get majority support in the legislature.
The governor is proposing that property tax revenue grow no more than two percent each year, along with a property tax freeze for Iowans above the age of 64 who live in a home valued under $350,000.
Senate Republicans propose eliminating property taxes for Iowans above the age 60 who no longer have a mortgage and own their homes as well as increasing the state’s homestead tax credit to fifty percent of a home’s value for everyone else. It includes a four percent limit on residential property tax growth.
Senate Majority Leader Mike Klimesh predicts lawmakers will find consensus on the property tax issue this year.
Grassley says the House GOP’s approach will be easy for taxpayers to understand, but he’s not offering specifics on how it may be different from the other two proposals.
Grassley made his comments during an appearance on “Iowa Press” on Iowa PBS.
KIWA Staff Photo
