1.Amount of tax.
a.Except as provided in subsections 2 and 3, a school district shall cause to be levied
each year, for the school general fund, a foundation property tax equal to five dollars and
forty cents per thousand dollars of assessed valuation on all taxable property in the district.
The county auditor shall spread the foundation levy over all taxable property in the district.
b.The amount paid to each school district for the tax replacement claim for industrial
machinery, equipment, and computers under section 427B.19A shall be regarded as property
tax. The portion of the payment which is foundation property tax shall be determined by
applying the foundation property tax rate to the amount computed under section 427B.19,
subsection 3, paragraph “a”, as adjusted by section 427B.
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1. Amount of tax.
a. Except as provided in subsections 2 and 3, a school district shall cause to be levied
each year, for the school general fund, a foundation property tax equal to five dollars and
forty cents per thousand dollars of assessed valuation on all taxable property in the district.
The county auditor shall spread the foundation levy over all taxable property in the district.
b. The amount paid to each school district for the tax replacement claim for industrial
machinery, equipment, and computers under section 427B.19A shall be regarded as property
tax. The portion of the payment which is foundation property tax shall be determined by
applying the foundation property tax rate to the amount computed under section 427B.19,
subsection 3, paragraph “a”, as adjusted by section 427B.19, subsection 3, paragraph “d”, if
any adjustment was made.
c. Replacement taxes under chapter 437A or chapter 437B shall be regarded as property
taxes for purposes of this chapter.
d. The amount paid to each school district under section 441.21, subsection 5, paragraph
“e”, shall be regarded as property tax. The portion of the payment which is foundation
property tax shall be determined by applying the foundation property tax rate to the
amount computed under section 441.21, subsection 5, paragraph “e”, subparagraph (4),
subparagraph division (a), and such amount shall be prorated pursuant to section 441.21,
subsection 5, paragraph “e”, subparagraph (2), if applicable.
2. Tax for reorganized and dissolved districts.
a. Notwithstanding subsection 1, a reorganized school district shall cause a foundation
property tax of four dollars and forty cents per thousand dollars of assessed valuation to
be levied on all taxable property which, in the year preceding a reorganization, was within
a school district affected by the reorganization as defined in section 275.1, or in the year
precedingadissolutionwasapartofaschooldistrictthatdissolvedifthedissolutionproposal
has been approved by the director of the department of education pursuant to section 275.55.
b. In succeeding school years, the foundation property tax levy on that portion shall
be increased to the rate of four dollars and ninety cents per thousand dollars of assessed
valuation the first succeeding year, five dollars and fifteen cents per thousand dollars of
assessed valuation the second succeeding year, and five dollars and forty cents per thousand
dollars of assessed valuation the third succeeding year and each year thereafter.
c. The foundation property tax levy reduction pursuant to this subsection shall be
available if either of the following apply:
(1) In the year preceding the reorganization or dissolution, the school district affected by
the reorganization or the school district that dissolved had a certified enrollment of fewer
than six hundred pupils.
(2) In the year preceding the reorganization or dissolution, the school district affected
by the reorganization or the school district that dissolved had a certified enrollment of six
hundred pupils or greater, and entered into a reorganization or dissolution with one or more
school districts with a certified enrollment of fewer than six hundred pupils. The amount of
foundation property tax reduction received by a school district qualifying for the reduction
pursuant to this subparagraph shall not exceed the highest reduction amount provided in
paragraphs “a” and “b” received by any of the school districts with a certified enrollment of
fewer than six hundred pupils involved in the reorganization pursuant to subparagraph (1)
of this paragraph “c”.
d. For purposes of this section, a reorganized school district is one which absorbs at least
thirtypercentoftheenrollmentoftheschooldistrictaffectedbyareorganizationordissolved
during a dissolution and in which action to bring about a reorganization or dissolution is
initiated by a vote of the board of directors or jointly by the affected boards of directors to
takeeffectonorafterJuly1, 2007, andonorbeforeJuly1, 2024. Eachdistrictwhichinitiated,
by a vote of the board of directors or jointly by the affected boards, action to bring about a
reorganization or dissolution to take effect on or after July 1, 2007, and on or before July 1,
2024, shall certify the date and the nature of the action taken to the department of education
by January 1 of the year in which the reorganization or dissolution takes effect.
3. Railway corporations. For purposes of section 257.1, the “amount per pupil of
foundation property tax” does not include the tax levied under subsection 1 or 2 on the
property of a railway corporation, or on its trustee if the corporation has been declared
bankrupt or is in bankruptcy proceedings.