MASON CITY — After the passing of the first funnel deadline at the statehouse, Republicans will now start to focus on their plan they say would be the biggest property tax overhaul since 1977. The bill would control how much revenue local governments get from property taxes by setting a two-percent cap on property tax valuations of residential, commercial and industrial property.
Mason City mayor Bill Schickel says he was down at the statehouse last week expressing potential concerns about that plan. “With inflation at three and four percent and the cost of all of our services, that would make things very difficult for us, but there’s a philosophical difference as well. We need the flexibility to be able to manage our communities, to be able to manage Mason City, and do that for the taxpayers and the citizens of Mason City.”
Schickel says capping growth at 2% hinders local governments as they try to make improvements to their communities. “When you cut our ability to be able to do things like provide Destination Iowa recreation amenities that are making north Iowa the recreation capital of the Midwest, the reputation for arts and architecture that’s drawing people here from around the world. When you cut into that kind of thing, you’re cutting into the very kind that makes Iowa and Mason City just a great, great place to live.”
Republican leaders say their plan would erase a series of property tax credits the state finances, meaning the state could then increase funding to schools and lower the amount of taxes property owners pay to their local school district.
