Iowa House Republicans have introduced a property tax reform bill separate from a proposal backed by the Senate and Gov. Terry Branstad, but the governor’s chief of staff says it contains all of the pieces needed to reach a final agreement.
Branstad chief of staff Jeff Boeyink said Friday that House and Senate lawmakers have a general agreement on a compromise framework, but they still have to work out details.
The House proposal includes permanent reductions in property value for commercial and industrial property taxpayers, which would lower their tax burden. It also offers property tax credits for businesses and changes that would treat rental properties the same as residential properties for taxation purposes. It would raise the earned income tax credit for low-income families, although not as much as the Senate plan.