The Iowa House has passed a measure overhauling the state's property tax system. The measure goes beyond a proposal by Gov. Terry Branstad to cut commercial property taxes by 40% over five years. It also gradually increases the share of local school budgets the state finances over seven years. When the measure is fully in place it will cost the state roughly $800 million a year. The measure now goes back to the Senate.
No comments:
Post a Comment