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Iowa - No Tax Relief for Businesses

by Morgan Thomas, Chicago, June 2012

For the second year in a row, Iowa lawmakers tried -- but ultimately failed to pass meaningful property tax reform.

 

Bills were crafted by the House and the Senate. However, neither could win the necessary votes. Senate File 2344 was narrowly defeated 24-23. Meanwhile, House File 2475 was overwhelmingly rejected by a vote of 71-26.

 

In assessing the proposals, opponents argued that the Senate's plans were based largely on tax credits that could be withheld by future legislatures. The House proposal was attacked for shifting taxes from businesses to homeowners and possibly forcing cuts in city and county services.

 

Gov. Terry Branstad says he would consider calling a special legislative session to pass a property tax relief package if he was assured there would be enough votes to approve it.