Bill > HF444

This bill creates a new class of property called "recreational property" specifically for golf courses that operate as commercial enterprises, with the first assessment of this property class taking effect on January 1, 2026. Under the new law, recreational properties will be assessed at 75 percent of their actual value and will be subject to the same equalization assessment procedures as commercial properties. The bill amends existing property tax statutes to include this new property classification in various sections related to property valuation and assessment, such as requiring the director of revenue to certify assessment percentages for recreational properties and ensuring that solar energy installations on recreational properties will not increase their taxable value for five assessment years. By creating this distinct property classification, the bill aims to provide a specific tax assessment approach for golf courses that operate as commercial businesses, potentially offering a unique tax treatment that differs from other property types.

Business and Industry

https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=HF444