ABI applauds Iowa Legislature's passage of property tax reform
May 23, 2013
The Iowa Association of Business and Industry (ABI) applauds the action taken by members of the House and Senate today. ABI members have operations and capital investment in Iowa's cities and towns all over the state. For years the business community has encouraged the legislature to come together to address the inequity faced by commercial and industrial property taxpayers. The conference committee report on Senate File 295 paves the way and takes a step forward in making Iowa a more attractive place to do business.
Mike Ralston, President of the Association said, "ABI members have been discouraged from expanding operations in Iowa for decades. The rollback provision of this bill will provide predictability for Iowa businesses and immediate relief on their commercial and industrial property tax bills." Ralston also said, “It is likely that the bill would not have advanced without the strong support of Governor Branstad, and ABI members applaud his work as well.”
In addition to predictability, businesses and homeowners have the opportunity to continue appealing their property assessments to the state Property Assessment Appeals Board. "The continuance of the appeals board is another pro-taxpayer action taken by the legislature. The PAAB allows property owners to appeal to a state board without having to navigate the complicated and costly court system," Ralston continued.
“Iowa businesses encourage Governor Branstad to sign the bill into law.” Ralston finished by stating, "We are grateful to the legislature and Governor for their work, and look forward to working with members of the House and Senate in 2014 to finish work that has been initiated to continue Iowa's climb from the bottom ten states when evaluating the overall business tax climate."