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.

SSB 1227 revises how Iowa counties can set their property tax levy rates for general and rural services, impacting county financial authority and property taxpayers. Starting in fiscal year 2026, the bill introduces new calculations for these levy rates, allowing for increases based on a percentage of the prior year's certified property tax dollars. For fiscal year 2027 and beyond, it establishes a framework where levy rates generally maintain the current year's rate. However, if total assessed value grows significantly, the bill allows for an adjustment using a "budget adjustment factor" tied to the Consumer Price Index. These provisions modify the limits and methods counties use to calculate property tax collections for local services.