Republican plan raises taxes on homeowners
Throughout the national economic recession, Iowa communities have worked to create greater efficiencies in local government and to be fiscally responsible with available resources. That way they can make ends meet and continue providing important services to residents.
However, if a Republican property tax proposal is adopted, all the hard work and efficiencies could soon be for naught.
House File 691 would increase property taxes for homeowners across the state, and it would reduce the ability of most cities to attract and retain good jobs.
In addition, local governments face the loss of hundreds of millions of dollars under the Republican plan, according to the Iowa League of Cities. Communities will be forced to cut basic services (such as fire protection, police and street improvements), raise property taxes or both. If this Republican plan is approved, some Iowa homeowners will see their residential property taxes increase by more than 20 percent over the next five years.
No wonder cities all across Iowa are opposed to HF691. Iowa businesses need property tax relief, but this is not the way to do it.
Local officials say the Republican proposal would devastate their budgets. For example, the city of Council Bluffs would lose at least $24 million over the next five years, which could result in a property tax increase of more than 20 percent for homeowners, according to data from Iowa’s Department of Management. Carter Lake stands to lose close to $800,000, which could mean a property tax increase of almost 19 percent for homeowners.
For a complete list of Iowa cities and how they’ll be affected under the Republican tax proposal, go to http://s3.documentcloud.org/documents/89568/hf691-dollar-loss-and-levy-rate.pdf.
However, if a Republican property tax proposal is adopted, all the hard work and efficiencies could soon be for naught.
House File 691 would increase property taxes for homeowners across the state, and it would reduce the ability of most cities to attract and retain good jobs.
In addition, local governments face the loss of hundreds of millions of dollars under the Republican plan, according to the Iowa League of Cities. Communities will be forced to cut basic services (such as fire protection, police and street improvements), raise property taxes or both. If this Republican plan is approved, some Iowa homeowners will see their residential property taxes increase by more than 20 percent over the next five years.
No wonder cities all across Iowa are opposed to HF691. Iowa businesses need property tax relief, but this is not the way to do it.
Local officials say the Republican proposal would devastate their budgets. For example, the city of Council Bluffs would lose at least $24 million over the next five years, which could result in a property tax increase of more than 20 percent for homeowners, according to data from Iowa’s Department of Management. Carter Lake stands to lose close to $800,000, which could mean a property tax increase of almost 19 percent for homeowners.
For a complete list of Iowa cities and how they’ll be affected under the Republican tax proposal, go to http://s3.documentcloud.org/documents/89568/hf691-dollar-loss-and-levy-rate.pdf.
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