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Iowa Republicans propose doubling homestead tax exemption and phasing out "rollback" system by 2026.
Iowa Republicans have introduced amendments to their property tax overhaul plan, which now doubles the homestead tax exemption to $50,000 and phases out the "rollback" system by 2026.
The plan caps yearly tax rate increases on existing homes to 2% but allows some flexibility for local governments in high inflation.
Democrats are reviewing the proposal and remain skeptical.
Separately, the Iowa Senate has advanced a bill requiring a two-thirds majority for income tax increases, aiming to put it on the ballot in 2026.
Proponents see it as providing certainty, while opponents worry it could limit flexibility in financial crises.
Los republicanos de Iowa proponen duplicar la exención de impuestos de homestead y eliminar gradualmente el sistema "rollback" para 2026.