and twenty-five hundredths percent or the percentage of actual value determined by the
department of revenue at which property assessed as residential property is assessed for the
same assessment year under subsection 4. For valuations established for the assessment year
beginning January 1, 2016, the percentage of actual value as equalized by the department of
revenue as provided in section 441.49 at which multiresidential property shall be assessed
shall be the greater of eighty-two and five-tenths percent or the percentage of actual value
determined by the department of revenue at which property assessed as residential property
is assessed for the same assessment year under subsection 4. For valuations established for
the assessment year beginning January 1, 2017, the percentage of actu
Free access — add to your briefcase to read the full text and ask questions with AI
and twenty-five hundredths percent or the percentage of actual value determined by the
department of revenue at which property assessed as residential property is assessed for the
same assessment year under subsection 4. For valuations established for the assessment year
beginning January 1, 2016, the percentage of actual value as equalized by the department of
revenue as provided in section 441.49 at which multiresidential property shall be assessed
shall be the greater of eighty-two and five-tenths percent or the percentage of actual value
determined by the department of revenue at which property assessed as residential property
is assessed for the same assessment year under subsection 4. For valuations established for
the assessment year beginning January 1, 2017, the percentage of actual value as equalized
by the department of revenue as provided in section 441.49 at which multiresidential
property shall be assessed shall be the greater of seventy-eight and seventy-five hundredths
percent or the percentage of actual value determined by the department of revenue at which
property assessed as residential property is assessed for the same assessment year under
subsection 4. For valuations established for the assessment year beginning January 1, 2018,
the percentage of actual value as equalized by the department of revenue as provided in
section 441.49 at which multiresidential property shall be assessed shall be the greater
of seventy-five percent or the percentage of actual value determined by the department
of revenue at which property assessed as residential property is assessed for the same
assessment year under subsection 4. For valuations established for the assessment year
beginning January 1, 2019, the percentage of actual value as equalized by the department of
revenue as provided in section 441.49 at which multiresidential property shall be assessed
shall be the greater of seventy-one and twenty-five hundredths percent or the percentage
of actual value determined by the department of revenue at which property assessed as
residential property is assessed for the same assessment year under subsection 4. For
valuations established for the assessment year beginning January 1, 2020, the percentage
of actual value as equalized by the department of revenue as provided in section 441.49
at which multiresidential property shall be assessed shall be the greater of sixty-seven
and five-tenths percent or the percentage of actual value determined by the department
of revenue at which property assessed as residential property is assessed for the same
assessment year under subsection 4. For valuations established for the assessment year
beginning January 1, 2021, the percentage of actual value as equalized by the department of
revenue as provided in section 441.49 at which multiresidential property shall be assessed
shall be the greater of sixty-three and seventy-five hundredths percent or the percentage
of actual value determined by the department of revenue at which property assessed as
residential property is assessed for the same assessment year under subsection 4.
c. BeginningwithvaluationsestablishedonorafterJanuary1, 2016, butbeforeJanuary1,
2022, for parcels for which a portion of the parcel satisfies the requirements for classification
as multiresidential property pursuant to paragraph “a”, subparagraph (5) or (6), the assessor
shall assign to that portion of the parcel the classification of multiresidential property and
to such other portions of the parcel the property classification for which such other portions
qualify.
d. Property that is rented or leased to low-income individuals and families as authorized
by section 42 of the Internal Revenue Code, and that has not been withdrawn from section
42 assessment procedures under subsection 2 of this section, or a hotel, motel, inn, or other
building where rooms or dwelling units are usually rented for less than one month shall not
be classified as multiresidential property under this subsection.
e. As used in this subsection:
(1) “Assisted living facility” means property for providing assisted living as defined in
section 231C.2. “Assisted living facility” also includes a health care facility, as defined in
section 135C.1, an elder group home, as defined in section 231B.1, a child foster care facility
under chapter 237, or property used for a hospice program as defined in section 135J.1.
(2) “Dwellingunit”meansanapartment,groupofrooms,orsingleroomwhichisoccupied
as separate living quarters or, if vacant, is intended for occupancy as separate living quarters,
in which a tenant can live and sleep separately from any other persons in the building.
(3) “Land-leasedcommunity”meansthesameasdefinedinsections335.30Aand414.28A.
(4) “Manufactured home community” means the same as a land-leased community.
(5) “Mobile home park” means the same as defined in section 435.1.
14. a. Beginning with valuations established on or after January 1, 2022, all of the
following shall be classified and valued as residential property:
(1) Property primarily used or intended for human habitation containing two or fewer
dwelling units.
(2) Mobile home parks.
(3) Manufactured home communities.
(4) Land-leased communities.
(5) Assisted living facilities.
(6) A parcel primarily used or intended for human habitation containing three or more
separate dwelling units. If a portion of such a parcel is used or intended for a purpose that,
if the primary use, would be classified as commercial property or industrial property, each
such portion, including a proportionate share of the land included in the parcel, if applicable,
shall be assigned the appropriate classification pursuant to paragraph “b”.
(7) For a parcel that is primarily used or intended for use as commercial property or
industrial property, that portion of the parcel that is used or intended for human habitation,
regardless of the number of dwelling units contained on the parcel, including a proportionate
share of the land included in the parcel, if applicable. The portion of such a parcel used or
intended for use as commercial property or industrial property, including a proportionate
share of the land included in the parcel, if applicable, shall be assigned the appropriate
classification pursuant to paragraph “b”.
b. Beginning with valuations established on or after January 1, 2022, for parcels for which
23 ASSESSMENT AND VALUATION OF PROPERTY, §441.21A
a portion of the parcel satisfies the requirements for classification as residential property
pursuant to paragraph “a”, subparagraph (6) or (7), the assessor shall assign to that portion
of the parcel the classification of residential property and to such other portions of the parcel
the property classification for which such other portions qualify.
c. Property that is rented or leased to low-income individuals and families as authorized
by section 42 of the Internal Revenue Code, and that has not been withdrawn from section
42 assessment procedures under subsection 2 of this section, or a hotel, motel, inn, or other
building where rooms or dwelling units are usually rented for less than one month shall not
be classified as residential property under this subsection.
d. As used in this subsection:
(1) “Assisted living facility” means property for providing assisted living as defined in
section 231C.2. “Assisted living facility” also includes a health care facility, as defined in
section 135C.1, an elder group home, as defined in section 231B.1, a child foster care facility
under chapter 237, or property used for a hospice program as defined in section 135J.1.
(2) “Dwellingunit”meansanapartment,groupofrooms,orsingleroomwhichisoccupied
as separate living quarters or, if vacant, is intended for occupancy as separate living quarters,
in which a tenant can live and sleep separately from any other persons in the building.
(3) “Land-leasedcommunity”meansthesameasdefinedinsections335.30Aand414.28A.
(4) “Manufactured home community” means the same as a land-leased community.
(5) “Mobile home park” means the same as defined in section 435.1.