§ 427.2 — Taxable property acquired through eminent domain

Iowa § 427.2

• Jurisdiction: Iowa
• Title X: FINANCIAL RESOURCES
• Ch. 427: PROPERTY EXEMPT AND TAXABLE

Text

1. Real estate occupied as a public road, and rights-of-way for established public levees
and rights-of-way for established, open, public drainage improvements shall not be taxed.
2. When land or rights in land are acquired in connection with or for public use or public
purposes, the acquiring authority shall assist in the collection of property taxes and special
17 PROPERTY EXEMPT AND TAXABLE, §427.2A
assessments. However, assistance in the collection of the property taxes does not require
the payment of property taxes on the property acquired which exceed the amount of just
compensation offered as required by section 6B.45 for the acquisition of the property.
3. The property owner shall pay all property taxes which are due and payable when
the property owner surrenders possession of the property acquired and also those which
become due and payable for the fiscal year the property is acquired in an amount equal to
one-twelfth of the taxes due and payable on the property acquired for the preceding fiscal
yearmultipliedbythenumberofmonthsinthefiscalyearinwhichthepropertywasacquired
which elapsed prior to the month in which the property owner surrenders possession, and
including that month if the surrender of possession occurs after the fifteenth day of a month.
For purposes of computing the payments, the property owner has surrendered possession
of property acquired by eminent domain proceedings when the acquiring authority has the
right to obtain possession of the acquired property as authorized by law. When all of the
property is acquired for public use or public purposes, the property owner shall pay all
special assessments in full which have been certified to the county treasurer for collection
before the possession date of the acquiring authority. When part but not all of the property
is acquired for public use or public purposes, taxing authorities may collect property taxes
and special assessments which the property owner is obligated to pay, in accordance with
chapter 446, from that part of the property which is not acquired. The county treasurer
shall collect and accept the payment received on property acquired for public use or public
purposes as full and final payment of all property tax on the property.
4. For that portion of the prorated year for which the acquiring authority has possession
of the property or part of the property acquired in connection with or for public use or public
purposes, all taxes shall be canceled by the county treasurer.
5. From the date of possession by the acquiring authority for land or rights in land
acquired in connection with or for public use or public purposes, and for as long as
ownership is retained by the acquiring authority, a special assessment shall not be certified to
the county treasurer for collection while under public ownership. However, the assessment
may be certified for collection to the county treasurer upon the sale of the acquired property
by the acquiring authority to a new owner on a prorated basis. Special assessments certified
to a county treasurer for collection while under public ownership shall be canceled by the
county treasurer.
6. Upon sale of the acquired property by the acquiring authority to a new owner, the new
owner shall pay all property taxes which become due and payable or would have become due
and payable but for the acquisition by the acquiring authority for the fiscal year the property
is acquired by the new owner in an amount equal to one-twelfth of the taxes multiplied by
the number of months in the fiscal year in which the new owner acquired the property which
occurred after the month in which the new owner acquired the property.

Legislative History

[C73, §809; C97, §1344; C24, 27, 31, 35, 39, §6945; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §427.2; 82 Acts, ch 1183, §1]