This bill amends property assessment and taxation laws in Iowa by establishing a new classification for recreational property, specifically targeting golf courses. Under the new provisions, recreational property will be defined as a golf course operated as a commercial enterprise and subject to taxation. Starting with valuations for the assessment year beginning January 1, 2026, recreational property will be assessed at seventy-five percent of its actual value.

Additionally, the bill modifies existing sections of the law to include recreational property alongside agricultural, residential, commercial, and industrial properties in various contexts, such as the assessment of actual value and the determination of taxable values. The bill also ensures that the assessment of recreational property will be subject to reassessment by the assessor and will follow the same equalization percentage as commercial property.

Statutes affected:
Introduced: 441.21