DES MOINES (AP) — A commercial property tax proposal from Gov. Terry Branstad is advancing in the GOP-controlled House, while a very different plan has support in the Senate.
Republicans in a House ways and means subcommittee on Monday approved legislation from Branstad that would gradually reduce taxable assessments for commercial property owners by 20 percent.
Senate Democrats have given committee-level approval to a plan that would gradually provide commercial property owners with a tax credit equivalent to a roughly 40 percent tax cut on their first $324,000 in assessed property value.
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