Iowa § 404B.4 Basis of tax exemption

Iowa Statutes

§ 404B.4 — Basis of tax exemption

Iowa § 404B.4

Title IXLOCAL GOVERNMENT

Ch. 404BDISASTER REVITALIZATION TAX EXEMPTIONS

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Bluebook

Iowa Code § 404B.4 (2026).

Text

1.All real property within a disaster revitalization area is eligible to receive a one hundred percent exemption from taxation on the increase in assessed value of the property, as compared to the property’s assessed value on January 1, 2007, if the increase in assessed value is attributable to revitalization of the property occurring between May 25, 2008, and December 31, 2013. The exemption is for a period not to exceed five years, starting with an assessment year beginning on or after January 1, 2010.

2.A city or county may adopt a different tax exemption percentage than the exemption provided in subsection 1. The different percentage adopted shall not allow a greater exemption, but may allow a smaller exemption. A different percentage adopted by a city or county shall apply to every

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1. All real property within a disaster revitalization area is eligible to receive a one
hundred percent exemption from taxation on the increase in assessed value of the property,
as compared to the property’s assessed value on January 1, 2007, if the increase in assessed
value is attributable to revitalization of the property occurring between May 25, 2008, and
December 31, 2013. The exemption is for a period not to exceed five years, starting with an
assessment year beginning on or after January 1, 2010.
2. A city or county may adopt a different tax exemption percentage than the exemption
provided in subsection 1. The different percentage adopted shall not allow a greater
exemption, but may allow a smaller exemption. A different percentage adopted by a city or
county shall apply to every disaster revitalization area within the city or county. The owners
of real property eligible for the exemption provided in this section shall elect to take the
exemption or shall elect to take an eligible exemption provided under another statute. Once
the election has been made and the exemption granted, the owner is not permitted to change
the method of exemption.