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flag Iowa Republicans propose doubling homestead tax exemption and phasing out "rollback" system by 2026.

flag 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. flag The plan caps yearly tax rate increases on existing homes to 2% but allows some flexibility for local governments in high inflation. flag Democrats are reviewing the proposal and remain skeptical. flag 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. flag Proponents see it as providing certainty, while opponents worry it could limit flexibility in financial crises.

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