This bill amends Section 427A.1 of the Iowa Code by adding a new subsection that exempts certain structures from being assessed and taxed as real property. Specifically, it states that a structure will not be subject to property assessment if it is not anchored to a permanent foundation, except by its own weight. This change aims to clarify the criteria for property assessment and taxation regarding non-permanently anchored structures.

The bill is deemed of immediate importance, meaning it takes effect upon enactment. Additionally, it includes a retroactive applicability provision, ensuring that the new assessment criteria will apply to assessment years beginning on or after January 1, 2025. This retroactive application allows for adjustments in property assessments based on the new definition of what constitutes a taxable structure.

Statutes affected:
Introduced: 427A.1