Iowa Department of Revenue officials outlined major changes in Senate File 24 72 that convert the homestead credit into a 10% homestead exemption (min. $5,500, max. $20,000 in assessment year 2026), impose 2%/3%/4% levy caps by taxing authority, add new assessment notice and appeal triggers, and assign implementation tasks to state and local agencies.

The Iowa House passed Senate File 2472, a wide-ranging property-tax reform bill that caps local revenue growth at 2% and makes other changes including reserve-account limits and a new homebuyer program. The final vote was 64-23 after hours of debate and multiple amendment votes.

Senate File 2472, a comprehensive property-tax reform package that adjusts rollbacks, expands homestead exemptions and delays some enforcement actions, passed the Senate 41–4 after sponsors and some Democrats described it as a significant first step.