From Senator Amanda Ragan –
During the 2013 session, we took big strides to expand Iowa’s middle class through job creation and economic growth initiatives, including the largest tax cut in state history. Fixing our state’s property tax system will save Iowans $4.4 billion over 10 years by giving every class of property a permanent tax cut.
A big piece of this effort is the new Business Property Tax Credit, which reduces commercial property taxes, helping small businesses the most. The Business Property Tax Credit will reduce taxes without shifting the burden to residential property owners through state reimbursements which will allow to local government to fully fund schools and continue providing services to the community. Commercial property owners can take advantage of the Business Property Tax Credit at www.iowa.gov/tax/locgov/13PTReform.html. For the first year, $50 million is available to commercial property owners, with applications for the credit on this year’s property taxes being accepted through January 15, 2014.
When the $125 million tax cut is fully phased in after three years, almost two-thirds of Iowa commercial properties—those valued at $145,000 or less—will be taxed at the same rate as residential properties. Bigger businesses also will get a break on the first $145,000 of their property.
Other much-praised boosts to local business and job creation include:
•Enhancing economic development by allowing local governments to establish reinvestment districts.
•Increasing incentives for businesses to locate and expand in Iowa. Financial incentives were increased to $16.9 million, and the state’s Economic Development Tax Credit was increased by $50 million. These funds will help with relocation and expansion projects that encourage local investment, job creation, employee training and higher wages.
•Encouraging rehabilitation of historic commercial properties and business districts by expanding eligibility for Iowa’s Historic Tax Credits to assist small and large projects.
•Helping promising startups get off the ground by providing an Innovation Tax Credit for investment in early-stage, innovative companies.
I think any time you have to spend more income tax money to cut property tax money you have not fixed the problem. You have just shifted it to a different pocket. Ragan may be a very nice person,but as long as she follows the Democratic leadership in the Iowa Senate we will not cut property taxes or income taxes. We will keep taking from one pocket to put into another pocket. What we need is a new person in the Senate with some new ideas on how to approach the high property tax rates without just cutting the local governments ability to do their job.
Regan says “Fixing our state’s property tax system will save Iowans $4.4 billion over 10 years by giving every class of property a permanent tax cut.”
What crap. Until ag land is valued at market value as part of the assessment process it will continue to drag on all other classes of property in the state.
Just compare the per acre market value of ag land generated in the last 3 years and compare this with the assessed value posted on county assessor sites. In many cases it indicates they are under assessed by a factor of 4 to 6 times.
Until this is rectified, all other categories of properties will continue to effectively subsidize ag land owners.
You’ve got my vote, Peter.
VOTE L if you are tired of the loud noise and the rude bikers. My niece and I got it done yesterday!
Maybe it’s just me but if somebody says they are a democrat the first thing I think of is that they cannot be trusted.
it is obvious that you don’t know Amanda Ragan. She can be trusted to do what she believes is the right thing for all Iowans. It is very closed minded to make such a blanket statement as you just did.
@DR Dunn-I know her very well and what maybe says is true. She is like all politicians and will lie and cheat to get what she wants. I know that for a fact because she did it with me.
sorry lvs I too know her well and I stand by my post. She does what she believes is best for all Iowan’s. You may not agree with her or her vote, but she is a great State Senator. She looks at both sides before making her decision. Reading some of your political posts on here I think you would say the same thing about any democrat that holds a political office.
@DR Dunn-Not true at all. I have nothing against true Democrats at all as my wife is one and in the past I have voted more Democrat than Republican. However, I am a conservative and most of the Democrats I supported were what you call Blue Dog Democrats and they are by far the minority now that the progressive have taken over. As for Amanda, she lied straight out to me on a issue several years ago and it was one of the things that helped me move away from the Democrats. It is just like your great leader, you can’t believe any thing they say. Now, she is just another one of the spend sisters.
lvs I am curious as to what she lied to you about. Care to share it?
@DR Dunn-Not really. I will just say it was major issue I had talked to her about many times and she assured me she was going to do everything she could to defeat it and then she voted the other way. When I asked her about it she just started making excuses. I wouldn’t have minded her disagreeing and saying she was going to support it if that was what she felt, but instead she lied and I have had nothing to do with her since. It is also most of the reason I no longer vote Democrat very much. I don’t feel you can believe them and Amanda and Obama have sure proved me right.