Iowa Code § 15.500
Property tax exemption
Redline — January 1, 2025 → current.View current text →
Current — January 1, 2026
As of January 1, 2025
1. A community in which an eligible business’s project is located may grant the eligible business a property tax exemption for a portion of the actual value added by improvements to real property directly related to the eligible business’s created jobs. The community may allow a property tax exemption for a period not to exceed twenty years beginning the year that the improvements to real property are first assessed for taxation.
1. A community in which an eligible business’s project is located may grant the eligible business a property tax exemption for a portion of the actual value added by improvements to real property directly related to the eligible business’s created jobs. The community may allow a property tax exemption for a period not to exceed twenty years beginning the year that the improvements to real property are first assessed for taxation.
2. For purposes of this section, “improvements” means new construction, and rehabilitation of and additions to existing structures.
2. For purposes of this section, “improvements” means new construction, and rehabilitation of and additions to existing structures.
3. A property tax exemption granted under subsection 1 shall apply to all taxing districts, except for school districts, in which the real property is located.
3. A property tax exemption granted under subsection 1 shall apply to all taxing districts, except for school districts, in which the real property is located.
NEW section
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.