Iowa Businesses Could Save a total of $200 million
Together, Iowa businesses could save more than $200 million state-wide over the next four years.
The savings are in a property tax bill going through the Iowa state legislature. Business owners throughout the area would benefit from the plan.
The bill would cut the taxable value of commercial and industrial property taxes by 10 percent over the next two years. Le Claire shoppers also weighed in with their support on May 17th.
“Part of the reason why Le Claire has been so popular lately is because of the small businesses,” shopper Stacy Clark said last week. “If we can get more of them and keep them going, I think that’s good.”
Many Iowan cities are opposed to the plan though. Cities say they could lose up to $215 million in revenue by year 2024.
The Iowa State Senate is supposed to discuss the bill Wednesday. There is no word yet on when this year’s legislative session will end.