Can you think of any area of your life that is not directly impacted by government? Government, whether at the federal, state, or local level, has grown considerably overtime. The escalating $26 trillion national debt is the most symbolic description of the growth of government. As more demands are placed on all levels of government, it creates a problem. As […]
The High Cost of Economic Development Incentives as a Tool for COVID-19 Recovery Overview: The last sustained period of economic downturn in the United States saw explosive growth in the size and scope of state and municipal tax credit and abatement programs, subsidies, grants and other forms of economic development incentives. With the benefit of hindsight and new research […]
In Des Moines, PILOTs (payment in lieu of taxes) on non-profits are being considered to address high property taxes. Should government focus more on additional revenue or fight for less spending? The city of Des Moines is trying to address high property taxes and PILOTs are being considered as a solution. PILOTs or payment in lieu of taxes, are payments […]
Reducing the property burden is a priority for most Iowans. Cities and counties across Iowa are in the process of planning their budgets and holding public hearings. Government spending is at the heart of high property tax rates, and these budget hearings will not just establish what the city or county intends to spend, but also determine your future property […]
In 1934, Iowa enacted the first sales and income taxes to provide property tax relief. Today, nearly a century later, Iowa taxpayers still face the challenge of not only high property taxes, but also income and sales taxes. Between 2000 and 2017, Iowa property taxes increased by more than 100 percent. This increase is more than inflation and population […]
Forty-nine states and the District of Columbia have some sort of tax-increment financing program incentivizing companies to do things they otherwise would not do. The concept has merits, but the way it is applied in Iowa and elsewhere has problems. In fact, many local policymakers hate it, but they feel powerless to stop offering these giveaways. In Iowa, the […]
FY 1999 to FY 2018 The amount of money collected from Iowans for the General Fund has increased from $4.4 billion to $7.38 billion in 20 years. During the last legislative session, the legislature began the process of lowering Iowa’s high tax rates, but we will still need further rate reduction. Lowering tax rates and unshackling Iowa’s economy from excessive […]
Property tax bills might increase from valuation growth more than the promised reduction from increasing the sales tax. Many property owners in Polk County received a shock recently as they opened their new property tax assessments. Assessments in Polk County increased from 7.1 percent in Johnston to 11.6 percent in Des Moines. Numerous property owners saw a 10 percent […]