Bill > HSB238

Introduced Session

Code section 427A.1 specifies that for the purposes of property taxation only, certain property shall be assessed and taxed, unless otherwise qualified for exemption, as real property, including buildings, structures, or improvements, any of which are constructed on or in the land, attached to the land, or placed upon a foundation whether or not attached to the foundation. However, property is not “attached” if it is a kind of property which would ordinarily be removed when the owner of the property moves to another location. This bill provides that aboveground storage tanks of any size that would ordinarily be removed when the owner of the property moves to another location shall not be assessed and taxed as real property. The bill makes inapplicable Code section 25B.7. Code section 25B.7 provides that for a property tax credit or exemption enacted on or after January 1, 1997, if a state appropriation made to fund the credit or exemption is not sufficient to fully fund the credit or exemption, the political subdivision shall be required to extend to the taxpayer only H.F. _____ that portion of the credit or exemption estimated by the department of revenue to be funded by the state appropriation. The bill takes effect upon enactment and applies retroactively to assessment years beginning on or after January 1, 2025.

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No sponsors listed

Other Sponsors (1)

Committee report approving bill, renumbered as HF 1050. (on 05/13/2025)

Official Document