This bill amends the provisions related to the taxation of forest and fruit-tree reservations in Iowa, specifically under Code chapter 427C. It establishes that a forest reservation must contain at least 200 growing forest trees per acre and requires a qualifying application to be submitted by February 1 of the exemption year. Additionally, if any buildings are present on the designated area, one acre will be excluded from the tax exemption, although this exclusion will not affect the overall acreage requirement.

Furthermore, the bill introduces new requirements for property owners seeking tax exemptions for forest and fruit-tree reservations. In addition to meeting the criteria set by the natural resource commission, owners must also be receiving a homestead tax credit under Code chapter 425 during each assessment year to maintain their tax exemption. The bill includes provisions for inspections, notification of property transfers, and conditions under which the tax exemption may be revoked. It takes effect immediately upon enactment and applies retroactively to assessment years beginning on or after January 1, 2025.

Statutes affected:
Introduced: 427C.3, 427C.7