Journal Express, Knoxville, IA

Opinion

April 22, 2013

Heartsill Report

The Cost of Doing Nothing

(Continued)

Des Moines —

 
·       After the 20% forced rollback, three classes of property are tied together with a 2% assessment growth limitation (Commercial, AG and Residential)
 
·       Industrial will not be tied with the other three classes, but will mirror commercial. Meaning, whatever commercial is assessed at, industrial will receive the same treatment.

School District Funding

 
·       Raises the school foundation formula from 87.5% to 95% over 4 years

Multi-residential Property Classification

 
·       Adds a new property tax classification for nursing homes, assisted living facilities, residential care facilities, mobile home parks, manufactured home communities.
 
·       Assessed as commercial the first year, then rolled back to 60% over four years.  At that point, taxed the same as residential.

Telecommunications Property Taxation

 
·       Central office equipment is exempted from taxation
 
·       Land, buildings and outside plant is then rolled back to 80% the first year, 60% the second.

One of the major concerns raised with the House version of Property Tax Reform has been from local municipalities who are apprehensive about trusting future legislatures with fulfilling the promise made by the current one; Specifically the promise to backfill the revenue losses to local governments due to the 20% rollback.  While I agree that is a valid concern, I would also point out that future legislatures would have to take action to defund the backfill.  In other words, the backfill to local governments is automatically funded as an on-going expense of state government, in the House version.

Contrast that with the Senate version.  Their version of property tax reform would require the legislature to actively appropriate the property tax credit fund from the General Fund on an annual basis.  It would not happen automatically.  Therefore the Senate version does not lend much confidence and predictability to Iowa businesses as the House version would.  The maximum amount that could be appropriated in the Senate’s property tax credit fund would be $250 million.  While the House version provides approximately $339 million in property tax relief when fully implemented.

Text Only
Opinion
  • Another View Charlotte mug Another View

    Last week on TV – remember?  Pictures of the D-Day landing when Allied troops waded through cold waves, June 6, 1944, to face Nazi guns and land on the beaches of Normandy, France.  

    June 18, 2014 1 Photo

  • In the House of Wood

    I sometimes worry about what little regard is shown for human life these days. 

    June 18, 2014

  • Heisman winner's legacy wasn't about football
    If you've heard of Nile Kinnick, you’ve never forgotten his story. If you haven't, it’s a relatively short one with a sad ending.
     

    June 5, 2014

  • The Rules of the Road By Jill Pertler I do not consider myself an excellent driver. I am good, or maybe just okay - around a B-minus to a C-plus if I were giving out grades. I am not great at maneuvering into tight parking spaces or knowing when it is my turn at a four-wa

    March 21, 2014

  • Steve mug Creativity rules! I've noticed as a married man that there are times in our marriages when it is just nice to be right. Take for instance Monday night. By the time I got home from the council meeting, I was pretty hungry. I didn't grab anything to eat before my evenin

    March 21, 2014 1 Photo

  • Frankford mug Acute Temporary Comfort Rejection Syndrome By Phillip Frankford Acute Temporary Comfort Rejection Syndrome

    March 21, 2014 2 Photos

  • Shivvers pic 21st century overwhelm, beginning with shampoo I was in a hurry and needed only one more item at the grocery store. Shampoo. I wanted shampoo to wash my hair. But I found a hazard course - and couldn't remember how I got through the last time. What should I do? Would it be simple "anti-itch liqui

    March 21, 2014 1 Photo

  • Next time ... To the Editor: While surfing my Facebook page, I came across this message: "I Shall Continue To Do What I think Is Right Whether Anybody Likes It Or Not." -Harry S. Truman. After reading this quote, I decided to tell my experience. I was walking to m

    March 21, 2014

  • Protecting Iowa's children A topic that most Iowans prefer not to acknowledge nor discuss is human trafficking. However, it is a serious matter in our society that we can no longer afford to ignore. With the I-80 and I-35 corridors that crisscross our state - and the I-29 corr

    March 6, 2014

  • Letter: Disagrees with Shivvers To the Editor: I read, with interest, Ms. Shivvers' comments in her opinion piece "Another View-Breaking Bad in Iowa" in the Feb. 14, 2014, edition of the Knoxville Journal-Express. It is the first time I have heard today's agriculture compared to th

    March 6, 2014

Features
AP Video
Raw: MD Church Built in 1773 Ravaged by Fire Flight to Tel Aviv From US Diverted to Paris AP Review: Amazon Fire Adds Spark to Smartphones Judge Ponders Overturning Colo. Gay Marriage Ban NYPD Chief Calls for 'use of Force' Retraining VA Nominee McDonald Goes Before Congress Airlines Halt Travel to Israel Amid Violence US Official: Most Migrant Children to Be Removed Police Probing Brooklyn Bridge Flag Switch CDC Head Concerned About a Post-antibiotic Era Raw: First Lady Says `Drink Up' More Water Raw: Massive Fire Burns in North Dakota Town Raw: Truck, Train Crash Leads to Fireball Courts Conflicted Over Healthcare Law Holder Urges Bipartisanship on Immigration US Airlines Cancel Israel Flights Obama Signs Workforce Training Law Obama Offers Condolences at Dutch Embassy Michigan Plant's Goal: Flower and Die WWII Vet Gets Medals, 70 Years Late
Facebook
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Poll

Upon completion and reopening of Third Street, should the City of Knoxville wait to start the next stage of the Streetscape and Infrastructure project until 2015?

Yes
No
     View Results