Ad-Express and Daily Iowegian, Centerville, IA

Local News

October 25, 2013

Bus. Property Tax Credit is available

DES MOINES — The Iowa Department of Revenue announces implementation of the new Business Property Tax Credit. The Business Property Tax Credit is one of the components of the largest tax cut in Iowa history signed into law by Iowa Gov. Terry Branstad on June 12.

The Business Property Tax Credit is for certain commercial, industrial and railroad properties but it does not apply to residential or agriculturally classified property.

One credit is available for each qualified property unit. A property unit consists of contiguous parcels of the same classification that are owned by the same person and operated by that person for a common use and purpose.

Applications for credit against 2013 property tax assessments must be received by the county or city assessor by Jan. 15, 2014. The actual amount of credit each property unit will receive depends in part upon the total value of all property units and the average consolidated rates in each unit.

The credit calculation is designed to spend 98 percent of the amount appropriated by the Legislature to the Business Property Tax Credit Fund. For the first year of the credit $50 million was appropriated to the Fund. The Legislative Services Agency has estimated that the maximum first year credit amount will be approximately $523.

The Department has created a page on its website devoted exclusively to 2013 commercial property tax reform. On this web page taxpayers can access and print a copy of the Business Property Tax Credit Application Form and view answers to questions that have been asked.

For more information on the Business Property Tax Credit, including the application form, visit the Department’s website at www.iowa.gov/tax/locgov/13PTReform.html.

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The Iowegian wants readers to think about the solicitation ordinance that will prevent groups or individuals from entering a roadway to solicit money. The Centerville City Council in June by a 5-0 vote passed the first reading of just such an ordinance. Public pressure and during a subsequent special meeting, the council voted 3-2 to table the ordinance. A second special meeting to discuss the solicitation ordinance is scheduled for 5:30 p.m. Thursday, Aug. 7 at City Hall. So, the question of the week is, "Do you or do you not support the ordinance to prevent solicitation of funds in city streets?"

A. I support the ordinance
B. I do not support the ordinance
C. Not sure
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