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 modifies Iowa county property tax rates for general and rural services. It sets new annual tax rate formulas based on assessed value, with specific calculations for fiscal years starting in 2024-2028. Key provisions include requiring counties to maintain tax revenue at 101.5% of the previous year's actual levy (for 2027-2028) and linking rate adjustments to changes in the consumer price index (CPI), using a "budget adjustment factor" that ranges from 102% to 105% based on CPI growth. These changes directly affect county governments' ability to set property tax levies for local services.