A bill for an act relating to local government property taxes, financial authority, and budgets, modifying appropriations, and including effective date, applicability, and retroactive applicability provisions.

This bill sets new limits on property tax rates for Iowa counties and cities. It caps annual tax rates for general services based on a formula comparing current tax collections to property values, excluding increases from new construction or boundary changes. For counties and cities, rates cannot exceed a specific dollar amount per $1,000 of assessed value, with adjustments tied to prior years' actual tax collections and property value growth. The rules apply to fiscal years starting July 1, 2026, and directly affect local government budgeting for property taxes.