Don’t miss out!
You need to take action to lower your Iowa property tax burden!
The Iowa Department of Revenue recently announced implementation of the new Business Property Tax Credit. Senate File 295 of the 2013 Iowa Acts provides a Business Property Tax Credit for certain commercial, industrial, and railroad properties. The credit does not apply to residential or agriculturally classified property. Application for credit against 2013 property tax assessments must be received by the county or city assessor by January 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 legislative Services Agency has estimated that the maximum first year credit amount will be approximately $513 and increases to $1,989 by year four.
We have included a copy of the application for your convenience. Also, there is a web site (http://www.iowa.gov/tax/locgov/13PTReform.html) with questions and answers regarding the 2013 Property Tax Reform.
The Century 21 ProLink Commercial team is disseminating this information for the benefit of our clients. We are in no way offering tax advice. Please let us know if you would like assistance completing this form for your properties.
Don Kirchner – 712-253-2300
Todd Nashleanas – 712-899-6369
Shane VanDeSteeg – 712-574-7177
Kyle Kelly – 712-223-3671