US EditionGov. Kim Reynolds Unveils Property Tax Proposal at 2026 Condition of the State
The proposal limits local government revenue growth to 2% annually, includes a $10 million consolidation grant, and offers property tax relief for seniors, aiming to curb rising property taxes.
- On Tuesday, Gov. Kim Reynolds proposed capping overall local government revenue growth at 2% annually with a new-construction exemption, announcing it as a top priority in her Condition of the State address.
- Facing rising tax growth, Reynolds argued spending drives taxes and said property tax growth outpaces inflation, paychecks and population after statewide roundtable meetings with Iowa residents and local officials.
- Among specific measures are a $10 million fund for consolidation grants, a property tax freeze for seniors age 65 and older in homes valued at $350,000 or less, FirstHome Iowa Accounts, and governance changes for county treasurers, auditors and recorders.
- Senate Republicans countered that their plan expands the homestead tax credit, differing from Reynoldsʼ proposal that would convert it to an exemption, while House Speaker Pat Grassley said House Republicans will release their own property tax bill next week.
- By capping revenue growth while exempting debt service and school funding, the plan limits TIF use and accelerates SAVE funding, reshaping local governments' fiscal tools after statewide consultations.
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KHQA
Gov. Kim Reynolds unveils property tax proposal at 2026 Condition of the State
KHQA provides coverage of news, sports, weather and local events in Quincy, Illinois and the surrounding community, including Mendon, Liberty, Hull, Barry and Camp Point, Illinois and Hannibal, Palmyra, Taylor, La Grange and Canton, Missouri.
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