Instead of crying wolf every time a minimal amount is cut from their revenue growth, local governments should rein in their spending. The dust hasn’t even settled on a new property tax law that provides tax breaks to seniors and veterans and local governments are already crying wolf. An article published by Axios Des Moines claims the new property tax […]
This article was published in The Cedar Rapids Gazette. Media outlets such as The Wall Street Journal are beginning to recognize that the Red-state model of limited spending and pro-growth tax reform is working. A recent editorial by The Wall Street Journal highlights several progressive Democrat “Blue” states confronting budget problems as a result of overspending and tax increases. States […]
At a time when property valuations are increasing and Iowans are struggling financially from inflation, local communities must focus on paying their debt off, not finding new spending projects. Iowa governments took on nearly 7% more debt — almost $1.3 billion — in fiscal year 2022 (FY22). The current Outstanding Obligations Report from the state treasurer shows this to be […]
Lawmakers at every level have control over how much the government spends. If our nation’s lawmakers need an example to emulate for good habits, though, Iowa can show them the playbook. During the most recent debt ceiling drama in our nation’s capital, modest spending reductions were exchanged for an increase in the federal government’s borrowing limit. While that compromise is […]
Both Iowa and Minnesota offer contrasting visions for their respective states and for America’s future. If you want to know what the left would do to America, pay close attention to what it is doing to Minnesota. This article was originally published in Real Clear Policy. There is no Berlin Wall or 38th Parallel separating Lyle, Minnesota, from Mona, Iowa, […]
When the federal government is forced into true spending cuts, dollars sent to the states could be first on the chopping block. There is an old adage that says a successful compromise is achieved when all parties involved walk away unhappy. That take might be too cynical, but it is also grounded in reality. And if that definition is accurate, […]
With the fiscal year almost over, the state is performing close to the latest REC forecast. Iowa’s revenue report for May has been released and the data revealed net General Fund revenue for the month was $189.9 million (-15.4%) below the May 2022 net revenue level. When broken down by the three largest sources (personal income tax, sales/use tax, and corporate income […]
Some cities may have collected more taxes than they needed and now they’re stockpiling your cash. 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 cities and other local governments […]
Iowa cities do important work, and that requires the collection of taxes. Problems surface, however, when cities with similar populations and services spend vastly different amounts of taxpayers’ money. Iowa’s 940 cities collect around 30% of all the property taxes we pay each year. Many of us are supportive of spending on law enforcement, emergency management, and roads. Where disagreement […]
This article was published in Real Clear Policy, the Cedar Rapids Gazette, and the Telegraph Herald. Both Governor Reynolds and legislative leaders have made Iowa a fiscal example for other states and the federal government to follow. President Calvin Coolidge regarded “a good budget as among the most noblest monuments of virtue.” President Coolidge’s fiscal conservatism is being exemplified at […]
Governor Reynolds and the Iowa Legislature continue to toe the line for taxpayers through 2024 with prudent budgeting. Despite national economic uncertainty resulting from high inflation, Iowa’s fiscal foundation was strong heading into the 2023 legislative session. One important reason for this success is the continued priority Governor Kim Reynolds and the Iowa Legislature are placing on prudent budgeting. In […]
This legislation delivers more transparency and spending restraint for taxpayers. However, future property tax reform must be pursued and include strong budget or spending limits applied to entire local government budgets. A wide-ranging package of property tax reforms were approved inside the Iowa State Capitol this week, as a compromise bill (HF 718) passed both legislative chambers with overwhelming bipartisan […]
With the fiscal year almost over, the state is continuing to outperform last year. Iowa’s revenue report for April has been released and the data revealed net General Fund revenue for the month was $157.3 million (-18.1%) below the April 2022 net revenue level. When broken down by the three largest sources (personal income tax, sales/use tax, and corporate income tax), revenue […]
At a time when property taxes are increasing across the state, requirements must be put into place to ensure Iowans have transparency on decisions about bonds and local tax increases. Iowa has long been at the forefront of elections in the United States. Since the 1970s, both major political parties have held their caucuses in the state, and around 93% […]
The recent ITR Foundation poll shows Iowans are concerned about their own financial stability and the role inflation and government tax-and-spend policies have on their budget. Iowans are increasingly concerned about the economy, with high inflation and national economic uncertainty contributing to their anxiety. A recent poll conducted by ITR Foundation found that 74.4 percent of Iowans believe the nation is heading […]
This article was published in the Iowa Capital Dispatch. Truth-in-Taxation forces local governments to be more transparent, holds local governments accountable, and provides an opportunity for citizens to have an honest conversation with their elected officials about property taxes. Frustration with high property taxes is reaching a boiling point, especially after taxpayers across Iowa are receiving their assessment notices. Taxpayers […]
Click here to download your copy of Iowans Favor Income Tax Constitutional Protection one-pager. Iowa has made great progress in reducing income taxes over the past few years. One question that is now being asked is, what is the best way to protect taxpayers from dramatic and damaging increases in the future? The most recent ITR Foundation poll found that over 60% of Iowans […]
With three-quarters of the fiscal year behind us, the state is continuing to outperform last year. Iowa’s revenue report for March has been released and the data revealed net General Fund revenue for the month was $39 million (7.3%) above the March 2022 net revenue level. When broken down by the three largest sources (personal income tax, sales/use tax, and corporate income […]
Property taxes are a heavy burden for Iowans and voters are demanding that the legislature step up to offer some relief. The most recent ITR Foundation poll found that a full two-thirds of Iowans support the general assembly setting limits on how much a local government can tax and spend in order to control the growth of property taxes.
Iowa taxpayers and small businesses would be better served if federal policymakers made the TCJA permanent, pushed back on proposed tax increases, and fought inflation by cutting government spending. This article was published in The Cedar Rapids Gazette. The Tax Cuts and Jobs Act (TCJA) brought historic tax relief to taxpayers. Taxpayers and small business owners across Iowa benefited greatly […]
Iowa counties do important work. However, problems surface when counties with similar populations and services spend vastly different amounts of taxpayers’ money. Iowa’s 99 counties collect the third-largest portion of property taxes statewide, after cities and school districts — representing approximately 22 percent of the overall property tax burden. Counties have historically played a major role in the conduct of […]
It turns out that defining the proper role of local government, deciphering between wants and needs, and frustrated property taxpayers are not dynamics that are unique to Iowa. Our friends at
The Cardinal Institute in West Virginia are working through those same issues in their state. In a recent article, Cardinal’s Executive Director, Garrett Ballengee joined with Mark Moses, a former city finance administrator and local budget expert, to examine municipal finance and discuss the concept of mission creep.
Further protection for the taxpayer can be good policy, but lawmakers must ensure there are no unintended consequences along the way. The Iowa Legislature is considering a joint resolution that would establish protections for Iowa taxpayers in the state constitution. Senate Study Bill 1207 and House Study Bill 232 propose two amendments. The first would require two-thirds of both chambers […]
Iowa’s future has never looked brighter. When crafting the budget, policymakers must remain focused on limiting spending so our state can continue on the path to prosperity. The March Revenue Estimating Conference (REC) recently confirmed that revenue projections continue to be strong, demonstrating the resilience of Iowa’s economy. The REC is responsible for estimating state revenue, which is challenging when […]
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 […]