Gov. Terry Branstad had a little company at his weekly news conference Monday morning to talk about property tax reform.
Local government officials came to the capitol to express support for the governor’s property tax reform plan.
The governor’s latest plan backfills lost revenue from tax cuts to local governments so they wouldn’t lose money as the plan is implemented. Branstad says reform is needed for job creation saying Iowa`s commercial property taxes are currently the third-highest in the nation, and make it difficult to attract and retain jobs in Iowa.
If it is fully implemented, the governor’s reform plan would reduce property taxes by $400 million.