Property tax incentives are unnecessary, politically motivated, group says
Wednesday, April 24, 2013 3:29 PM
Property-tax reduction plans in the Iowa House and Senate are costly to local and state services and offer an unnecessary break to businesses. "The biggest justification for either plan is political - not based on any inherent economic need to reduce commercial property taxes," said Peter Fisher, research director of the nonpartisan Iowa Policy Project and co-author of a policy brief on the issue for the Iowa Fiscal Partnership. The Senate plan offers most of its benefits to small businesses, whereas the House bill benefits primarily big-box stores that don't need a property tax incentive to locate in the state because they have to be here to sell their products, according to the report. Click here to read the full report.