Bill > HSB316

Introduced Session

This bill relates to assessment limitations for property taxation purposes for commercial child care facilities, and includes effective date, applicability, and retroactive applicability provisions. Code section 441.21(5) determines the amount of actual value of commercial property that is subject to property tax. The amount is the sum of the residential assessment limitation H.F. _____ to the portion of the property’s value that does not exceed $150,000 plus 90 percent of the property’s value in excess of $150,000. The bill excludes property that is primarily used as a child care facility from the calculation of the actual value of the property. The bill instead specifies that for assessment years beginning on or after January 1, 2025, the amount of actual value used as child care facilities that is subject to tax is equal to the product of the assessment limitation percentage applicable to residential property multiplied by the actual value of the property provided that the property owner has applied for the assessment limitation and the county board of supervisors has allowed such an assessment limitation. The bill establishes application procedures, approval procedures, and recordkeeping procedures for the assessment limitation. The bill makes conforming changes to reflect the child care facility assessment limitation. The bill takes effect upon enactment. The bill applies retroactively to assessment years beginning on or after January 1, 2025, and applies to payments to local governments for fiscal years beginning on or after July 1, 2026.

Committee Categories

No sponsors listed

Other Sponsors (1)

Committee report approving bill, renumbered as HF 991. (on 04/07/2025)

Official Document