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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 05, 2000
Page
7
A five year average based tax base for utilities reduced city valuations about 6.5 percent lowering Iowa Citys tax base by roughly 30 million statewide effects include a 670067 next year due to levy changes. Johnson County officials see no immediate revenue loss while Alliant Energy fights a 68 million overassessment with a potential year long hearing.
The Iowa excise tax replaces property taxes for utilities based on pole miles and energy delivered. A three year transition ensures tax revenue stays near five year property tax averages, with county levies covering shortfalls. An 11 member panel monitors issues while lawmakers may adjust the law as needed.
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