A bill for an act relating to property assessment standards and litigation.

HF 563 requires Iowa county and city assessors to use standardized metrics developed by the International Association of Assessing Officers (IAAO) to ensure equitable property valuations. Specifically, it mandates that assessments maintain a coefficient of dispersion (COD) below 15.99% and a price-related differential (PRD) between 0.98 and 1.03 for each property class, unless justified by "good cause." The bill also defines "like property" as all property within the same class for appeal purposes and limits the use of special counsel in assessment litigation to cases involving business entities. These changes directly affect local assessors, property owners appealing valuations, and taxing districts handling assessment disputes.