The Iowa House of Representatives passed House File 2274 today that would introduce sweeping tax reform for all property taxpayers across the state.

“I applaud the members of the Iowa House for standing up for the taxpayer,” said Iowa State Director Mark Lucas. “This tax relief package will boost our economy and put more Iowans to work.”

Iowa commercial property taxes are paid on 100 percent of its valuation. That is one of the reasons the Tax Foundation ranked Iowa 41st in its business tax climate index. This measure would cut property taxes paid by businesses nearly in half over eight years. The bill also avoids residential property taxes from increasing by 73 percent over the next 10 years.

“This is a comprehensive tax relief package that is extremely fair,” says Lucas. “It provides relief to all taxpayers.”

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