Iowa § 427.18 Token tax liability accrues

Iowa Statutes

§ 427.18 — Token tax liability accrues

Iowa § 427.18

Title XFINANCIAL RESOURCES

Ch. 427PROPERTY EXEMPT AND TAXABLE

This text of Iowa § 427.18 (Token tax liability accrues) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 427.18 (2026).

Text

If property which may be exempt from taxation is acquired after July 1 by a person or the
state or any of its political subdivisions, the exemption shall not be allowed for that fiscal
year and the person or the state or any of its political subdivisions shall pay the property
taxes levied against the property for that fiscal year, and payable in the following fiscal
year. However, the seller and the purchaser may designate, by written agreement, the party
responsible for payment of the property taxes due.

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If property which may be exempt from taxation is acquired after July 1 by a person or the
state or any of its political subdivisions, the exemption shall not be allowed for that fiscal
year and the person or the state or any of its political subdivisions shall pay the property
taxes levied against the property for that fiscal year, and payable in the following fiscal
year. However, the seller and the purchaser may designate, by written agreement, the party
responsible for payment of the property taxes due.