§ 426A.8 — Excess remitted — appeals

Iowa § 426A.8

• Jurisdiction: Iowa
• Title X: FINANCIAL RESOURCES
• Ch. 426A: MILITARY SERVICE TAX CREDIT AND EXEMPTIONS

Text

1. If the amount of credit apportioned to any property eligible for military service tax
exemption under this chapter in any year shall exceed the total tax, exclusive of any special
assessments levied against such property eligible for military service tax exemption, then
the excess shall be remitted by the county treasurer to the department of revenue to be
redeposited in the general fund of the state and reallocated the following year by the
department.
2. a. Ifanyclaimforexemptionmadehasbeendeniedbytheboardofsupervisors,andthe
action is subsequently reversed on appeal, the same credit shall be allowed on the assessed
valuation, not to exceed the amount of the military service tax exemption involved in the
appeal, as was allowed on other military service tax exemption valuations for the year or
years in question, and the director of revenue, the county auditor, and the county treasurer
shall credit and change their books and records accordingly.
b. If the appealing taxpayer has paid one or both of the installments of the tax payable
in the year or years in question on such military service tax exemption valuation, remittance
shall be made to the county treasurer in the amount of such credit.
c. The amount of the credit shall be allocated and paid from the surplus redeposited in
the general fund of the state provided for in subsection 1.

Legislative History

[C50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §426A.8]