Despite claims of inflation fears, the data shows city and county budgets have been outpacing inflation for years. An Axios Des Moines article about recent property tax reforms really caught our eye. In the article, a handful of city and county leaders in Iowa were lamenting new changes to Iowa law meant to rein in the growth of property taxes. One […]
The Tax Foundation’s ranking, in combination with continuing surpluses, proves that fiscal conservatism is working in Iowa. Tax rates matter. They are a major factor determining the economic well-being of a state in both the money they leave in the economy and the impressions decision-makers have when comparing states. The Tax Foundation recently released its annual 2024 State Business Tax [&helli...
When it comes to property taxes, silence only encourages local governments to keep growing their spending. When traveling around Iowa, our team visits individuals and business owners in their local communities. The major concern that we hear over and over is the weight of the property tax burden. Iowans, whether in the Des Moines Metro or in rural Henry County, […]
Iowa’s legislature has signaled their desire for a level playing field and a fair, impartial judicial system. The concept of agency deference has shaped the legal landscape of the United States since the Supreme Court issued a decision known as “Chevron”. The Chevron deference, named after the energy company, was a legal principle where the courts would defer to an […]
Perhaps the real lesson that can be learned from Oklahoma is that tax reforms are not easy to implement, even when there is unified control of a state Capitol. On October 3, 2023, the Oklahoma legislature reconvened for a special session. Governor Kevin Stitt (R) called the special session for the specific purposes of income tax reduction, tax fairness, and […]
At a time when the economic environment is forcing families to budget for gasoline and groceries while property taxes keep climbing, school districts would do well to focus on projects directly related to the education of children. On November 7, 2023, 34 school districts will ask voters to approve bond questions totaling more than $1.2 billion across 50 counties in […]
Total FY2023 net revenue exceeded the REC’s March estimates. Iowa’s recently released revenue report for September revenue contains the final accounting for fiscal year 2023 (FY23). In early 2022, the Iowa Legislature enacted historic income tax reform reducing top rates and allowing taxpayers to keep more of their hard-earned income. The three-member Revenue Estimat...
75 percent of Iowans will see a bond question on their November 7th ballot. The November 7, 2023, election ballots in 50 Iowa counties will have bond questions that total $1.72 billion in potential new spending statewide. A majority of the state’s people, 75%, live in counties with bond referenda next month, and these residents face their local governments saddling […]
This article was published in The Gazette. Governor Reynolds is working to reform state government and make it more accountable and efficient for the taxpayer. Former President Herbert Hoover chaired two commissions during the presidential administrations of President Harry S. Truman and Dwight D. Eisenhower. The Hoover Commissions were looking to make government more efficient. As a result of the...
Oklahoma wants to follow the Iowa playbook: controlling government spending is vital to a successful tax reform policy. Oklahoma Governor Kevin Stitt has called a special legislative session, convening on October 3, 2023, for the purpose of income tax reduction and increased transparency within the state budget. The governor is not merely pushing for income tax relief but is asking the l...