Iowa property tax plan unveiled - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa property tax plan unveiled


Wednesday Iowa lawmakers unveiled details to a new property tax reform plan.

The plan included a 25 percent reduction in commercial property tax for the state of Iowa.

The Senate Majority Leader says the tax reduction would be phased in over a five year period and money would be set aside to pay local governments that lose tax revenue.

Besides property tax reform, the Senate Democratic Leader Mike Gronstal says lawmakers are making progress on the budget.

Gronstal says the education budget is done and the health and human services budget is getting close.

He's optimistic that the session will wrap up by the middle of next week.

Powered by Frankly