Iowa lawmakers expect commercial property tax deal

News

January 5th, 2012 by Ric Hanson

DES MOINES, Iowa (AP) — Legislative leaders say they are getting closer to a deal over plans to overhaul Iowa’s commercial property tax system. Despite failure to reach an agreement during last year’s session, lawmakers such as Republican Rep. Tom Sands, of Wapello, say they’re ready to work with Democrats again during the session that begins Monday. Democrats, who hold a majority in the Senate, say they were optimistic they could reach agreement with Gov. Terry Branstad and Republicans who control the House. A key, though, is whether reductions in commercial property taxes could be phased in over a long enough time.

Branstad spokesman Tim Albrecht says the governor sees commercial property tax reform as a key part of his economic development plan and was willing to negotiate with legislative leaders.