Bill Text: IA HSB706 | 2023-2024 | 90th General Assembly | Introduced
Bill Title: A bill for an act relating to mobile homes and manufactured homes property taxes, and including applicability provisions.(See HF 2590.)
Spectrum: Committee Bill
Status: (Introduced - Dead) 2024-02-19 - Committee report approving bill, renumbered as HF 2590. [HSB706 Detail]
Download: Iowa-2023-HSB706-Introduced.html
House
Study
Bill
706
-
Introduced
HOUSE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
JUDICIARY
BILL
BY
CHAIRPERSON
HOLT)
A
BILL
FOR
An
Act
relating
to
mobile
homes
and
manufactured
homes
property
1
taxes,
and
including
applicability
provisions.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
6290YC
(6)
90
cm/jh
H.F.
_____
Section
1.
Section
435.22,
subsection
1,
paragraph
b,
1
subparagraphs
(1)
and
(3),
Code
2024,
are
amended
to
read
as
2
follows:
3
(1)
If
the
owner
of
the
home
is
an
Iowa
resident,
has
4
attained
the
age
of
twenty-three
years
on
or
before
December
31
5
of
the
base
year,
and
has
an
income
when
included
with
that
of
6
a
spouse
which
is
less
than
eight
forty
thousand
five
hundred
7
dollars
per
year,
the
annual
tax
shall
not
be
imposed
on
the
8
home.
If
the
income
is
eight
thousand
five
hundred
dollars
or
9
more
but
less
than
sixteen
thousand
five
hundred
dollars,
the
10
annual
tax
shall
be
computed
as
follows:
11
If
the
Household
Annual
Tax
Per
12
Income
is:
Square
Foot:
13
$
8,500
——
9,499.99
3.0
cents
14
9,500
——
10,499.99
6.0
15
10,500
——
12,499.99
10.0
16
12,500
——
14,499.99
13.0
17
14,500
——
16,499.99
15.0
18
(3)
Beginning
with
the
1998
base
year,
the
income
dollar
19
amounts
set
forth
in
this
paragraph
“b”
shall
be
multiplied
20
by
the
cumulative
adjustment
factor
for
that
base
year
as
21
determined
in
section
425.23,
subsection
4
.
22
Sec.
2.
Section
435.22,
subsection
2,
paragraphs
a
and
b,
23
Code
2024,
are
amended
to
read
as
follows:
24
a.
For
the
sixth
through
ninth
years
after
the
year
of
25
manufacture
the
annual
tax
is
ninety
percent
of
the
tax
26
computed
according
to
subsection
1
,
paragraph
“a”
or
“b”
,
27
whichever
is
applicable
unless
subsection
1,
paragraph
“b”
,
28
applies
.
29
b.
For
all
homes
ten
or
more
years
after
the
year
of
30
manufacture
the
annual
tax
is
eighty
percent
of
the
tax
31
computed
according
to
subsection
1
,
paragraph
“a”
or
“b”
,
32
whichever
is
applicable
unless
subsection
1,
paragraph
“b”
,
33
applies
.
34
Sec.
3.
APPLICABILITY.
This
Act
applies
to
taxes
due
and
35
-1-
LSB
6290YC
(6)
90
cm/jh
1/
2
H.F.
_____
payable
in
fiscal
years
beginning
on
or
after
July
1,
2025.
1
EXPLANATION
2
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
3
the
explanation’s
substance
by
the
members
of
the
general
assembly.
4
This
bill
relates
to
the
taxation
of
mobile
homes
and
5
manufactured
homes.
6
The
bill
modifies
income
threshold
amounts
applicable
to
the
7
reduced
square
footage
tax
rates
applicable
to
mobile
homes
and
8
manufactured
homes.
These
amounts
are
currently
adjusted
for
9
inflation.
For
the
year
beginning
July
1,
2024,
the
annual
tax
10
is
not
imposed
on
an
owner
with
an
annual
income
of
less
than
11
$13,048,
and
an
owner
with
an
annual
income
between
$13,408
and
12
$25,328
pays
the
annual
tax
at
one
of
five
reduced
rates.
The
13
bill
provides
that
the
tax
is
not
imposed
on
an
owner
with
an
14
annual
income
of
less
than
$40,000,
does
not
provide
a
reduced
15
rate,
and
does
not
adjust
the
$40,000
threshold
for
inflation.
16
The
bill
applies
to
taxes
due
and
payable
for
fiscal
years
17
beginning
on
or
after
July
1,
2025.
18
-2-
LSB
6290YC
(6)
90
cm/jh
2/
2
