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ILA Letters
& Press Releases
Below is an archive issue from of
our Iowa Landlord Association letters and press releases. Please
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Press Release
29 October 2002
For Immediate Release
Subject:
Des Moines Rental Properties Pay Their Fair Share.
Des Moines, Iowa - The City of Des Moines wishes to
raise an additional six-hundred thousand dollars ($600,000) a year
in additional revenues for the City. Statements made by Des Moines
officials have indicated that landlords don't pay enough and are
being subsidized by other taxpayers for the inspection process. The
City's solution is to increase inspection fees up to one-hundred and
thirty-two percent of current fee rates.
However,
residential rental property already pays its fair share. Rental
property with three or more units is taxed as commercial property in
Iowa. Residential property that is owner occupied receives a
rollback on their assessed value of approximately of forty- eight
percent (48%). Commercial property does not receive this rollback.
A four-plex assessed at $49,000 pays around $2100 in
property taxes. An owner occupied house assessed at $49,000 will pay
less than $1100 or about $1000 less. The City of Des Moines receives
around 38% of the property tax bill, $798 from the rental and $418
from the owner occupied property. They both receive the same city
services, but rental property pays almost $400 a year more.
A multi-plex assessed at $595,000 pays about $13,000 per
year in property taxes. An owner occupied property of the same
assessed value will pay around $6500 per year or thousands less.
In any comparison between rental property and owner occupied
property, the rental property will pay more for the same city
services.
Des Moines officials have no justification for
raising inspection fees by up to 132% except to cover part of their
$9,000,000 deficit spending.
# # # # #
The
Iowa Landlord Association
P.O. Box 13246
Des Moines, Iowa
50310-0246
515-270-2796
Directors: David Sollenbarger &
Dennis McDonald
Website: http://www.iowalandlord.org/
e-mail: ilaservices@iowalandlord.org
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