The benefit of switching to a set dollar exemption is taxpayers would receive a predictable and permanent form of relief that does not depend on the state’s fiscal situation. A tax bill proposed in the 2023 Legislature would switch Iowa from a credit to an exemption as the form of property tax relief for homesteads — or residents’ primary housing. […]
This article was published in the Des Moines Register, Cedar Rapids Gazette, and the Telegraph Herald. Iowa has 37 executive branch cabinet agencies — more than all neighboring states. The governor’s proposal is to reduce the number of executive-level agencies to 16, making government more efficient while saving taxpayer dollars. Since assuming office, Governor Kim Reynolds has placed a priority […]
Iowa county bond information is not easy to acquire. State law should require county auditors to have this information on their website and also require the Secretary of State’s office to aggregate this information so news outlets and interested parties could more easily report on bonds and property tax increases being asked at special elections. On March 7, 2023, thirty-five Iowa […]
A proposed $43 million expenditure will be placed on Urbandale’s March 7th ballot requiring 60% approval to pass. If the special election harbors the same voter turnout as last year’s special election, just 14% of voters could commit their community to tens of millions of dollars in spending. The burden of property taxes is a heavy one for many Iowans […]
This article was published in the Waterloo-Cedar Falls Courier. Despite numerous changes, lasting relief has not been delivered and Iowa currently has the 10th-highest property tax burden in the nation. If you have lived in Iowa for any length of time, then you know property taxes are, without a doubt, the most despised tax in the state. That’s why numerous […]
Simplifying the tax code and forcing cities to live within the general fund levy rate will result in tax relief for property taxpayers. Over the course of Iowa’s history, the legislature has approved multiple property tax levies dedicated to specific uses in municipalities. Many of these special levies came into existence decades ago and no longer serve a purpose. Iowa […]
A spending limitation would deliver lasting property tax relief by taking a head on approach to addressing runaway local government spending. Property taxes are a concern for taxpayers across the nation and it seems Iowa is not the only place where lawmakers are attempting to deliver much needed relief from the burden of local government spending. The Montana Legislature is […]
Iowans and their state government know how to live within their means; it’s time local governments do the same.
If you are following the 2023 Iowa legislative session, then you know there is a lot of proposed legislation aimed at reforming and lowering the property tax. This is because local governments in Iowa have a spending problem. Since 2000, total property taxes collected have increased nearly 120%, well outpacing inflation. The increased spending has put a burden on taxpayers that cannot be ignored.
Iowa’s taxpayers deserve better constitutional protections against the unquenchable appetite for government spending. Stronger limits can ensure spending remains under control, especially when fiscally conservative policymakers are absent. Introduction Going into the 2023 legislative session, Iowa’s fiscal foundation is strong. The Revenue Estimating Conference (REC), which is a three-person collaboration between the governor’s office and the Legislative Services Agency, is […]
Iowa’s Individual Income Tax Could be on the Road to Elimination The Iowa Senate kicked off February with a bang by introducing a measure to lower both individual and corporate tax rates, before placing the individual income tax on a path to elimination. Senator Dawson’s bill (SSB1126) would help Iowa maintain its competitive position, while allowing taxpayers to keep more […]
Senator Dawson introduced a bill (SSB1126) that calls to speed up the individual income tax reductions and reduce the overall rate to 2.5 percent by 2028 while eventually eliminating the income tax altogether. The Iowa Senate kicked off February with a bang by introducing a measure to lower both individual and corporate tax rates, before placing the individual income tax […]
Unassigned General Fund dollars beyond 15-30% of annual General Fund Expenditures might be excessive. The concept of reserve funds and ending fund balances have been discussed by lawmakers and local officials alike in recent days at the Iowa Capitol and in the press. It’s something we’ve had our eyes on for years here at Iowans for Tax Relief Foundation. Following […]
Total net receipts YTD are 3.8% more than 2022, with growth in personal income tax, sales/use tax, and corporate income tax. Iowa’s revenue report for January has been released and the data revealed net General Fund revenue for the month was $0.1 million (0.1%) above the January 2022 net revenue level. When broken down by the three largest sources (personal income tax, […]
By delivering truly universal school choice, a child’s educational opportunity will no longer be blocked because of their zip code or socioeconomic status. This legislation is not about dollars, but about creating life-changing opportunities for families across Iowa. In January, the Iowa legislature passed the Students First Act, which creates a universal Education Savings Account (ESA) program. The Students First […]
The House’s proposed legislation would require cities, counties, and school districts to set aside at least 10 percent of the total cost of any project for which bonds are to be issued and require notices be mailed to each property owner with personalized taxpayer information about the effects of potential spending increases on their property tax bills. Just a few […]