Lawmakers pledge to tackle complicated property taxes in Iowa.
In late November, NFIB hosted a roundtable event in Van Meter at the Veteran’s Reception Center in Van Meter. It’s part of a series of roundtable listening sessions designed to get small business owners in front of elected leaders and help them understand what it takes to run a small business.
In Van Meter, NFIB, along with ITR, or Iowans for Tax Relief, hosted Rep. David Young, Rep. Dan Gehlbach, Sen. Jesse Green and Rep. Carter Nordman. Each helped give a brief overview on what happened during 2023’s legislative session, shich included historical property tax reform that will provide at least $100 million in relief, simplifying and consolidating 15 levies into one and caping growth by limiting city and county spending. It’s the first step in the process of reigning in out-of-control property tax rates for thousands of Iowans.
Some of the small business owners gathered in Van Meter told lawmakers that they haven’t seen any kind of property tax reduction and would like to see a more transparent way of transferring state money to counties and cities and then explaining the cost and how the counties and cities will spend that money after the taxpayer hands over their check.
Lawmakers pointed out the work that’s already been done on income taxes, which will be a flat 3.9% for every Iowans but he year 2026. This year there was talk of lowering the number even further to 2.5% and some lawmakers want to gradually lower that number until it reaches zero.
The first day of Iowa’s 2024 Legislative Session is January 8, 2024.
