Sign in to confirm you’re not a bot
This helps protect our community. Learn more

Property Tax Backfill Payments

Iowans for Tax Relief
22 subscribers
31 views 7 years ago
The assessed values of commercial and industrial real estate were rolled back as part of 2013's property tax reforms. To make up for the reduction in property tax revenue, Iowa's state government "backfills" local governments. More than $152 million is paid to cities, counties, and school districts each year. Each local government is unique. Since the reform: *Many governments now have property tax revenue that EXCEEDS 2013 levels, even without including backfill payments. *Many governments also see year to year growth in property tax revenue that exceeds the amount of the backfill. *Property tax assessments continue to climb around the state. The State of Iowa needs to consider its backfill payments within the framework of total property tax revenue growth. For many local governments, reduced or eliminated backfill payments wouldn't mean budget cuts, it would mean they will be managing with smaller increases. For local entities who have already been made whole: *This is not a cut. *This shouldn't lead to property tax increases. *This will slow the growth of spending. ...more
...more
Property Tax Backfill Payments
0Likes
31Views
2018Apr 5
The assessed values of commercial and industrial real estate were rolled back as part of 2013's property tax reforms. To make up for the reduction in property tax revenue, Iowa's state government "backfills" local governments. More than $152 million is paid to cities, counties, and school districts each year. Each local government is unique. Since the reform: *Many governments now have property tax revenue that EXCEEDS 2013 levels, even without including backfill payments. *Many governments also see year to year growth in property tax revenue that exceeds the amount of the backfill. *Property tax assessments continue to climb around the state. The State of Iowa needs to consider its backfill payments within the framework of total property tax revenue growth. For many local governments, reduced or eliminated backfill payments wouldn't mean budget cuts, it would mean they will be managing with smaller increases. For local entities who have already been made whole: *This is not a cut. *This shouldn't lead to property tax increases. *This will slow the growth of spending.

Follow along using the transcript.

Iowans for Tax Relief

22 subscribers