Capitol Update
PROPERTY TAX:
Identified by both Republican and Democratic legislative leaders as a top priority this session, the Senate advanced its property tax proposal on a 41–4 vote. An amendment to the Senate Property Tax bill was filed Wednesday by Ways and Means Chair Dan Dawson (R–Council Bluffs) and adopted later that same day on the Senate floor. While the amended bill (Senate File 2472) reflects progress, the two chambers have not yet reached agreement on a final compromise.
The amendment makes several significant changes. Whereas the original bill would have fully eliminated Iowa’s “rollback” system, which calculates property taxes as a percentage of assessed value, the revised version instead modifies how commercial, residential, and multi-residential properties are treated within that framework. It also repeals the 2023 property tax law that established levy rate caps for cities and counties and imposed additional consolidation and revenue requirements on local
