DES MOINES — The chairman of the Senate Ways and Means Committee on Wednesday unveiled an updated property tax reform package.
Dan Dawson’s bill would no longer provide the $50,000 property tax exemption proposed for homeowners after he says it would not work for a number of smaller towns with lower home values, which in turn would wipe out most of those communities’ property tax revenue.
The new bill proposes that every home would get a 25% discount on the value of their house up to $125,000. It still would set a 2% limit on city and county budget increases, but it would allow local governments flexibility in being allowed to rise during periods of higher inflation.
The bill was discussed in a senate subcommittee on Wednesday, but Dawson says there still could be other tweaks to the bill prior to it being debated in the full Senate.
