The most recent Revenue Estimating Conference prediction is aligning with actual results. January results will provide an even better understanding of revenue trends. Iowa’s revenue report for November has been released and the data revealed net General Fund revenue for the month was $371.9 million (-38.8%) below the November 2021 net revenue level. When broken down by the three […]
Spending limits are similar to speed limits in a school zone, both are designed to protect. In the case of local governments, they apply the brakes to slow spending down. BACKGROUND One solution for property tax relief is strengthening the 2 percent “soft cap” placed on city and county budgets through the 2019 property tax reform law. A stronger spending […]
Even with the extensive reforms as of late and the elimination of the county health levy, property taxes still remain a top concern of taxpayers with much work left to be done. In 2013, the legislature enacted a comprehensive property tax reform measure directed at providing commercial property tax relief. Some of the major reforms of the legislation included: […]
Iowa’s property tax was first enacted in 1839. Although it has undergone several changes over the years, it continues to be a substantial burden to taxpayers across the state. Iowa’s property tax has had a tumultuous history. Iowa’s territorial legislature enacted the first revenue act in 1839, creating a tax levy on real and personal property. This form of […]
The most recent Iowans for Tax Relief Foundation Poll, conducted by Cygnal, shows support for conservative candidates and incumbents remains strong, while the economy continues to be top of mind for Iowa voters. (Complete poll results and analysis are available for download below) Governor Reynolds has maintained her lead (+19.0%), over Democrat nominee Deidre DeJear as Senator Chuck Grassley continues […]
Don’t let these changes fool you. Nobody should believe that the pain of inflation is going to be erased by these IRS adjustments. The federal government’s tax collecting agency released their annual inflation adjustments this month, proving that even the IRS is not immune to inflation. These updates are an attempt to keep inflation from leading to a de facto […]
A majority of Iowans (57.9 percent) oppose the cancellation of student debt, while 32.5 percent support President Biden’s plan. There were mixed emotions in August when President Joe Biden announced his student loan forgiveness plan. This plan forgives up to $10,000 in federal student loans and up to $20,000 for Pell Grant recipients. Private loan holders are not included in […]
Taxpayers in Iowa have had enough of out-of-control property taxes, and they’re looking for solutions. Responsibility for property tax increases does not fall on the assessors but rather local government spending. In a recent ITR Foundation poll, conducted by Cygnal, Iowans were asked whether they supported or were opposed to the State Legislature setting limits on how much a local […]
Support for a constitutional amendment protecting the right to bear arms has grown to 62.2 percent, with only 31.6 percent opposing. In February, ITR Foundation polled Iowans on whether they would support a constitutional amendment on the ballot in November to protect their right to bear arms. There was overwhelming support at that time, as 58.9 percent of those polled […]
The Cato Institute has released their 2022 Fiscal Policy Report Card on America’s Governors. Iowa’s Kim Reynolds was not only one of just five governors who received an A grade from Cato, but this data driven report calculated her score as the highest in the nation! Since 2008, this report has graded the fiscal policies of our nation’s governors from […]
Iowa Governor Kim Reynolds was not only one of just five governors who received an “A” grade, but her score was the highest in the nation! The Cato Institute has released its 2022 Fiscal Policy Report Card on America’s Governors. Iowa’s Kim Reynolds was not only one of just five governors who received an A grade from Cato, but this […]
People are angry, frustrated, and worried about where our economy is going. At the state level, Iowa is reducing taxes and reducing spending to combat the bad decisions made in Washington D.C. Iowa Senate Majority Leader Jack Whitver is our guest on this episode of ITR Live. As Majority Leader, Whitver leads the Senate Republican caucus, not just through […]
The latest poll shows tremendous support for conservative candidates up and down the ballot. The Generic Ballot tested at +17 for the GOP, indicating the strongest political environment for Republicans in generations. Nobody would ever mistake any of the ITR staff for Creedence Clearwater Revival on karaoke night, but just as CCR saw a bad moon rising, we see […]
The most recent Iowans for Tax Relief Foundation Poll, conducted by Cygnal, shows Governor Kim Reynolds is growing more popular, while President Joe Biden remains unpopular. Iowans support a wide range of conservative candidates and policy measures, including spending limits on local governments to control property taxes. (Complete poll results and analysis are available for download below) Governor Reynolds has […]
Only slightly less inspiring than the harvest season in Iowa is the recently reported strength of our state’s budget and strong fiscal management.
ITR Foundation has the details of the final budget numbers for the past fiscal year and a look at the foundation that has been built for the success of our recent tax cuts. This is the second year in a row Iowa experienced a billion-dollar surplus, as the state ended fiscal year 2021 with a $1.24 billion surplus.
ITR Live gets together to talk about Governor Reynolds joining other governors in a lawsuit challenging the Biden Administration’s student loan forgiven plan. The conversation then turns to our state’s growing budget surplus, and how that stands in stark contrast to the exploding federal debt. John has further thoughts on how our massive federal debt might impact our nation’s future.
The City of Des Moines plans to give 100% of the revenue from a TIF (Tax Increment Financing) district to property developers. The price tag for this development could reach $1 billion. Is that fair? ITR Foundation (ITRF) President Chris Ingstad is a student of TIF and has answers to some very basic questions: Is there any evidence to show that this will boost overall economic activity, and are these incentives really necessary? Will individual taxpayers benefit in any way?
This action-packed episode of ITR Live is sure to entertain as we talk about crazy Uber rides, one-of-a-kind BBQ, and the thrilling, action-packed, heart-pounding agenda of a state think tank policy conference.
The gang also talks about recent headlines focused on an upcoming round of real estate assessments for properties in Polk County. The Polk County assessor estimates that residential assessments will increase by 22% next year. If you aren’t enthused about the corresponding increase in your property tax bill, who is to blame? What can you do about it? What can the legislature do about it?
Politicians’ talk about tax relief doesn’t always mean the taxpayer wins in the end. Not all tax relief is created equally, as a comparison of Iowa with its neighbor to the west will show.
Iowa enacted historic tax reforms in March that significantly cut income taxes and reduced taxpayers’ liability. This change was possible because the state had been prudent with its dollars. Iowa did not increase spending, has fully funded reserves, and is experiencing a billion-dollar budget surplus. That is what a taxpayer victory looks like.
In 2021, Governor Kim Reynolds and the Iowa Legislature worked to addresses high property taxes across the state with the passage of a measure which realigned the mental health funding system from local counties to the state budget. Historically, Iowa has been the only state in the nation to fund mental health programs through local property taxes. This resulted in a large […]
Recent headlines in Central Iowa are focused on an upcoming round of real estate assessments for properties in Polk County. Long-time Polk County assessor Randy Ripperger estimates that residential assessments will increase by 22% next year. We doubt Polk County residents will be the only Iowans experiencing a large jump in their assessed values; anyone who has tried to purchase […]
Iowa once had a property tax system that involved the use of “Tax Ferrets,” whose job it was to investigate individual Iowans to ensure compliance. On this episode of ITR Live, Chris got a new microphone and talks about the event where he got to meet all 11 of our listeners. Chris Ingstad and Sarah Curry join the podcast […]
Governor Kim Reynolds and the Iowa legislature delivered pro-growth tax reform by balancing restrained spending growth with income tax cuts. Years of prudent budgeting enabled the passage of historic tax reform in 2022, which will create a flat 3.9 percent income tax rate by 2026.
Chris, Chris, and John return from their long, unexplained hiatus to discuss two topics:
Pat Buchanan claims that Liberal Elites Detest Middle America after President Biden gave an inflammatory speech last week and brings receipts.
John praises Senate Majority Leader Jack Whitver for being the quiet conservative in Iowa. Click to read the Senator Jack Whitver article.
Trump cites the ITR Foundation Poll in his application to federal court for a special master. Another ITR Live episode with real breaking news: The ITR Foundation Poll is cited in former President Trump’s application to federal court for a special master. John tells us about the Durham Bulls’ Ripken the Dog, who fetches bats for the players. Chris Ingstad […]