In the last legislative session, Gov. Terry Branstad proposed a tax change to drastically lower taxes on businesses. Both Democrats and Republicans want to cut commercial property tax rates. Democrats want a tax credit up to a certain property valuation so all business owners get some relief, but the majority of the reduction is for small businesses.
The Republicans and Gov. Branstad want a 40 percent tax cut for all businesses — large and small. Does Walmart really need a 40 percent reduction in its property taxes? Further, the Democratic plan would be funded by the state. The Republican plan would take property tax money from local government; thus, local law enforcement, fire departments, parks and recreation departments, and other county and city agencies would lose funding in order for large corporations to get a tax break. Once again, local budgets would be balanced by taxing the middle class.
Nate Willems, Senate candidate for District 48, will work for a fair property tax policy.
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