426C.1 Definitions. For the purposes of this chapter, unless the context otherwise requires: 1. “Contiguous parcels” means any of the following: a. Parcels that share a common boundary. b. Parcels within the same building or structure regardless of whether the parcels share a common boundary. c. Permanent improvements to the land that are situated on […]
426C.2 Business property tax credit fund — appropriation. 1. A business property tax credit fund is created in the state treasury under the authority of the department. For the fiscal year beginning July 1, 2014, there is appropriated from the general fund of the state to the department to be credited to the fund, the […]
426C.3 Claims for credit. 1. Each person who wishes to claim the credit allowed under this chapter shall obtain the appropriate forms from the assessor and file the claim with the assessor. The director of revenue shall prescribe suitable forms and instructions for such claims, and make such forms and instructions available to the assessors. […]
426C.4 Eligibility and amount of credit. 1. a. Except as provided in paragraph “b”, parcels classified and taxed as commercial property, industrial property, or railway property under chapter 434 are eligible for a credit under this chapter. A person may claim and receive one credit under this chapter for each eligible parcel unless the parcel […]
426C.5 Payment to counties. 1. Annually the department shall certify to the county auditor of each county the amounts of the business property tax credits allowed in the county. Each county auditor shall then enter the credits against the tax levied on each eligible parcel or property unit in the county, designating on the tax […]
426C.6 Appeals. 1. If the board of supervisors disallows a claim for credit under section 426C.3, subsection 4, the board of supervisors shall send written notice, by mail, to the claimant at the claimant’s last known address. The notice shall state the reasons for disallowing the claim for the credit. The board of supervisors is […]
426C.7 Audit — recalculation or denial. 1. If on the audit of a credit provided under this chapter, the department of revenue determines the amount of the credit to have been incorrectly calculated or that the credit is not allowable, the department shall recalculate the credit and notify the claimant and the county auditor of […]
426C.8 False claim — penalty. A person who makes a false claim for the purpose of obtaining a credit provided for in this chapter or who knowingly receives the credit without being legally entitled to it is guilty of a fraudulent practice. The claim for a credit of such a person shall be disallowed and […]
426C.9 Rules. The director of revenue shall prescribe forms, instructions, and rules as necessary, pursuant to chapter 17A, to carry out and effectuate the purposes of this chapter. 2013 Acts, ch 123, §11, 13
