Iowa Code 437A.20 – Tax exemptions
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 437A.20
- property: includes personal and real property. See Iowa Code 4.1
- Replacement tax: means the excise tax imposed on the generation, transmission, delivery, consumption, or use of electricity or natural gas under section 437A. See Iowa Code 437A.3
- Taxpayer: means an electric company, natural gas company, electric cooperative, municipal utility, or other person subject to the replacement tax imposed under section 437A. See Iowa Code 437A.3
- year: means twelve consecutive months. See Iowa Code 4.1
Except as provided in section 437A.16, all property tax exemptions in the Code do not apply to property subject to the statewide property tax unless such exemptions expressly refer to the statewide property tax, except that if property was exempt from property tax on January 1, 1999, such exemption shall continue until the exemption expires, is phased out, or is repealed. The property of a taxpayer who does not owe any replacement tax is exempt from the statewide property tax for the coinciding assessment year.