With funnel week past, the focus will now shift to property tax reform at the state legislature. Senator Amy Sinclair says she has concerns with what Senate Democrats have proposed. She says it’s similar to what they proposed last year. It acts more as a tax credit than a rollback, she notes, and doesn’t give enough incentives to large manufacturers as it only credits around the first $300,000 worth of property value.
Sinclair explains that she generally likes what Governor Terry Branstad has proposed, which includes a 20 percent roll-back that’s backfilled for local government and would cap year-over-year assessment increases to two percent. She does have concerns about the back-fill eroding, but says that’s why there will need to be some tweaks as well. Sinclair adds that there will have to likely be a compromise between the plans.