The Iowa House, Senate and Governor Kim Reynolds have all announced property tax proposals. 

District 14 Senator Sarah Trone-Garriott says the proposals keep changing and she isn’t sure what the Senate will end up voting on when it comes to property taxes. Though she adds that she has concerns with proposals that would put hard caps on certain levies or limit the amount of cash in reserves a city or county could have.

“Because I’m hearing from our cities that if they can’t put money away to save for a big purchase or a big expense, that means they’re going to have to finance that. When a city is looking to borrow money, they get a better rate if they can prove that they have resources, they can prove that they have money in reserves. If you prevent them from doing that, it’s going to cost taxpayers more in the long run because they won’t get a good rate for borrowing.”

She adds that the state should stop pushing more burden onto property taxes and should instead find ways to share some expenses with local municipalities and think about how they could be a partner with those communities. 

The Senate Republican proposed bill would change how property is taxed in Iowa, which would affect nearly every homeowner in the state and could reshape how local governments fund basic services. Senate Republicans argue the changes are needed as home values continue to rise.