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(Des Moines, IA)Β -- A bill aimed at reforming property taxes in Iowa has cleared another legislative hurdle. The Senate study bill was approved by a Senate committee on Thursday.
The legislation would cap property tax increases at 2 percent, except during periods of high inflation. It also proposes phasing out the rollback provision over a 10-year period. The rollback is a discount that reduces property values for the purpose of calculating property taxes.
"When you eliminate rollback your automatically doubling the evaluation on everyone's home," said Democratic State Representative David Jacoby of Coralville.
Senate Republican sponsor Dan Dawson is pushing to get the property tax reform passed before lawmakers adjourn the current overtime legislative session.