The Iowa House of Representatives released the 2026 version of their property tax bill.

Representative for District 23 Ray Sorensen says that this is just the House Republicans version, and that the governor and Senate both have their own versions. He tells Raccoon Valley Radio what is in this bill.

“It caps city and county revenue growth at two percent plus new construction, while protecting schools and debt obligations. It creates a new $25,000 exemption on every residential property, delivering immediate relief to homeowners. It improves transparency by revamping property tax notices so taxpayers understand what they are paying for. It requires a stronger voter approval of 60 percent for property tax-backed bonds, and it directs the Councils of Government, the COG’s, to help local governments cut waste and find deficiencies.”

Sorensen mentions that he is in support of this version of the bill, as it puts taxpayers ahead of taxing entities. He adds it brings simplicity, transparency and predictability to a system that has too often favored government budgets over family budgets.