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IA HF2223
Bill
Status
1/30/2026
Primary Sponsor
Dave Jacoby
Click for details
AI Summary
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Creates an additional homestead property tax credit for homeowners age 18+ whose property values increased due to reassessment rather than new construction or improvements, capping annual tax increases at 4%
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Increases the standard homestead tax credit from $4,850 to $14,550 of actual home value, effective for property taxes due beginning July 1, 2027
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Expands elderly property tax credit eligibility to include persons aged 65-70 (previously only 70+) and creates a new category for claimants aged 70+ with enhanced benefits
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Establishes a residential property tax rebate program with income-based eligibility thresholds and provides appropriations for implementation
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Modifies retirement system provisions and includes applicability dates with most provisions taking effect for fiscal years beginning on or after July 1, 2027
Legislative Description
A bill for an act relating to local and state government finances by modifying provisions relating to homestead property tax credits, providing a residential property tax rebate, modifying provisions relating to retirement systems, making appropriations, and including applicability provisions.
Last Action
Subcommittee: Nordman, Jacoby and Lundgren. H.J. 570.
3/4/2026