County Unassigned Fund Balance Transparency

Some counties may be holding on to more reserve funds than necessary. Why the numbers matter. During debate in the 2023 Iowa Legislature over a technical correction related to the taxable value of properties, the spotlight touched on the topic of reserve funds. The correction in question lowers the amount of taxable valuation counties and other local governments can draw from, and […]

State Revenue Projections Are Growing

Iowa is demonstrating financial resiliency on numerous measures, despite the uncertainty plaguing the broader American economy. The State Revenue Estimating Conference (REC) met on March 10, 2023 to evaluate the current (FY23) and the next two fiscal years (FY24 and FY25). Members on the REC mentioned that Iowa’s withholdings are starting to show impacts from the tax cuts, but Iowa continues to […]

Certificate of Need Law Reform Could Save Lives

CON laws have decreased competition in Iowa’s healthcare field, resulting in higher medical costs and reduced healthcare access. The news has recently been telling stories about Iowa nursing homes closing and rural hospitals at risk. Iowans are facing higher healthcare costs and fewer options, and one reason is an extremely burdensome regulation called Certificate of Need, or CON. Healthcare providers […]

February Revenues Show Beginning Impact of New Tax System

With two-thirds of the fiscal year behind us, the state is continuing to outperform last year. Iowa’s revenue report for February has been released and the data revealed net General Fund revenue for the month was $35.9 million (5.7%) above the February 2022 net revenue level. When broken down by the three largest sources (personal income tax, sales/use tax, and corporate income […]

Nearly $400 Million in Bond Questions on March 7th Special Election

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 […]

Local Governments Should Budget Like a Citizen

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 Assessment Limitation – Rollback

 Iowa is one of 18 states that have assessment limitations to limit the growth of property taxes. Iowa is somewhat unique, however, because there is no limitation on property subject to rollback. Once calculated, it applies to all properties, even new construction. The property tax revolts of the late 1970s constituted the most significant property tax limitation movement in our […]

Taxpayer-Funded Advocacy Against Taxpayer Interests

Many Iowans have elected candidates who support school choice and property tax reform. However, local governments opposed to these measures use property tax dollars to fund lobbyists to fight against the will of their constituents. While all Iowans can talk to elected officials to voice their opinions, organizations with specific interests in the process of law-making often hire lobbyists to […]

Despite National Economic Uncertainty, Iowa’s Revenue Forecast Remains Strong

As long as spending is under control, the state will continue to be in a strong fiscal position to provide the core government services Iowans expect while continuing to lower taxes and spur economic growth. The State Revenue Estimating Conference (REC) met on December 14, 2022, to evaluate the current (FY23) and next (FY24) fiscal years. December REC meetings are […]

Be Thankful and Eat Turkey

The turkey industry in Iowa employs or supports over 38,000 total jobs and is responsible for as much as $10.64 billion in total economic activity throughout the state.   Iowa has a lot to be thankful for this holiday season. Our governor and legislature enacted the largest tax reform in state history, state revenue continues to exceed projections, the state […]

The Assessor is NOT to Blame

Don’t miss who is truly in charge of your property taxes. When county board, city council, and school board members increase spending, taxes go up; when their spending decreases, taxes go down. It’s as simple as that. We’ve all heard it around our communities: “Watch out: the assessor is coming around, which means property taxes are going up!” or “Don’t […]

Iowa’s October Revenue Continues to Surpass Estimates

Even with continued inflation, a national recession, and a workforce shortage, the state’s net General Fund revenue for the month was $198.6 million (32.7%) above October 2021. Iowa’s revenue report for October has been released and the news for the month continues to depict a positive fiscal situation heading into the holiday season. Even under the weight of continued inflation, […]

 
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