US EditionAs Iowa revenues fall, lawmakers likely have to take millions from reserves to meet budget
- Lawmakers in Iowa have introduced bills to limit property tax rates, with a proposed cap of 2% on growth, addressing concerns from over 66% of Iowans, according to a poll from Iowans for Tax Relief.
- The new law, House File 718, targets local government property tax rates as Iowa's revenue is projected to decrease significantly by $627 million for fiscal year 2026.
- Governor Kim Reynolds proposed a budget of $9.43 billion for the upcoming fiscal year, facing a budget gap of roughly $900 million due to decreased revenue.
- Critics argue that lawmakers are relying on reserves to cover ongoing expenses, raising concerns about future spending outpacing revenue.
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Iowa Capital DispatchReposted by 
Ottumwa Courier
Ottumwa CourierPanel says Iowa still in sound position for tax cuts despite economic uncertainty
Jennifer Acton, right, director of the Fiscal Services division of the Legislative Services Agency, spoke on revenue projections for the state of Iowa at the Revenue Estimating Conference March 13, 2025. Acton is a member of the REC alongside Kraig Paulsen, center, the state budget director and Jeff Plagge, director for Northwest Bank in Spencer. (Photo by Robin Opsahl/Iowa Capital Dispatch)Members of the Iowa Revenue Estimating Conference said …
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Leaning Left3Leaning Right1Center5Last UpdatedBias Distribution56% Center
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