Government : Gov. Reynolds Signs SF 181 Into Law giving $127 million in Property Tax Relief

Gov. Reynolds signed SF 181 into law, a bill that clarifies the rollback calculation for residential and multi-residential property and delivers $127 million in property tax relief to Iowa homeowners.  

Division I of the bill addresses the assessment limitation (or rollback) calculation for residential property. The Iowa Department of Revenue has issued an Order certifying the new assessment limitation which changes the assessment limitation for residential property from 56.4919% to 54.6501% for Assessment Year 2022.

The bill also gives local governments additional time to certify their budgets, moving the deadline to April 30.