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Posts Tagged ‘sf 295’

Legislative Update—Iowa

May 24th, 2013 Comments off

Following MHProNews story line from Wed, May 22 about legislation in Iowa, Joe Kelly of the Iowa Manufactured Housing Association (IAMHA) tells us the House has passed property reform tax bill SF 295 that will treat apartments, MHCs and nursing homes the same as residential property. Effectively, beginning with taxes due in Sept. 2016, each year will be a step down until the process is 100 percent complete in Sept. 2023. Joe Kelly says, “Many thanks to all of you who worked so hard on this issue for so many years.”

(Photo credit: Wikipedia–Iowa House of Representatives Chamber)

Iowa Measure will Reduce MH Property Taxes

May 22nd, 2013 Comments off

As follow-up to a story we posted April 18, 2013 concerning property tax rates in Iowa, Joe Kelly of the Iowa Manufactured Housing Association (IAMHA) informs MHProNews if SF 295 passes, property taxes on land lease communities will fall. The current rate is 100 percent of assessed value. With passage, the new measure would take effect Jan. 1, 2015, with the discounts being applied in the fall of 2016. The first discount will be 86.25 percent of assessed value beginning in 2015, and the rate drops roughly four percent each year until 2022 when it will be equivalent to residential rates.

(Image credit: Wikipedia–Iowa State Seal)

Iowa Legislature Weighs MHC Tax Reform

April 18th, 2013 Comments off

Following up on a story MHProNews posted April 17 concerning residential rental property in the Iowa legislature that would provide a tax break for manufactured housing communities, Joe Kelly of the Iowa Manufactured Housing Association (IAMHA) says the House rewrote SF 295 that the Senate had passed and returned it to the Senate, which he says will turn it down. A conference committee will attempt to iron out differences. Kelly notes MHCs would be part of any commercial property tax reform, but the House version is a better deal. It would provide an annual ten percent discount for four consecutive years for manufactured housing communities after which the tax rate would have been the same as residential property.

(Image credit: Wikipedia)