This bill amends Section 441.21 of the Iowa Code to redefine the classification of single-family homes for property taxation purposes. Specifically, it introduces a new provision stating that, starting January 1, 2027, any single-family home owned by a titleholder who owns more than ten single-family homes in Iowa will not be classified as residential property. Instead, these homes will be classified as commercial property for tax purposes.

The bill also provides a definition of a single-family home, describing it as a parcel intended for human habitation that contains one dwelling unit. This change aims to address the taxation of properties owned by large-scale landlords, ensuring that they are taxed at a commercial rate rather than a residential rate.

Statutes affected:
Introduced: 441.21