Courtesy Iowa Farm Bureau
WEST DES MOINES, IOWA – May 4, 2012 – The Iowa Farm Bureau, Iowa’s largest grassroots farm organization with over 153,000 family members, applauds House Study Bill 676, which improves the property tax picture for all Iowans, whether they are businesses owners, homeowners, or farmers.
“House Study Bill 676, in today’s economy, would reduce business taxes, which would be good for jobs and good for Main Street,” says Don Petersen, Iowa Farm Bureau Federation (IFBF) Director of Government Relations. “This measure would also tie the rate of government growth to Iowans’ ability to pay, so it’s more practical than other proposed tax reform measures. Clearly, the Devil is in the details on these property tax proposals. We support House Study Bill 676 because there is more solid protection for all.”
This bill not only offers tax credits to business owners, but relief to homeowners and farmers, too.
These growth limitations will help align local government growth with the local economy, and slow the rate of property tax increases for all taxpayers.
Over the past decade, property taxes have continued to outpace economic growth and family wages. Property taxes have increased by 75 percent, over $2 billion, since 2000. IFBF believes lawmakers must consider measures which limit the growth of property taxes on all Iowans.