Participants at a symposium on Iowa’s property tax system were skeptical that Iowa lawmakers would complete their work on property tax reform this session, giving Iowans an opportunity to voice their opinions on proposed changes.

“It seems like it’s too big of a lift to get anything done” with the session winding down, Nate Ristow, president and CEO of the Iowa Taxpayers Association, said during Wednesday morning’s symposium hosted by the Taxpayers Association of Central Iowa.

A delay in enacting property tax reform legislation would allow Iowans time to determine how a bill passed by an Iowa subcommittee affects taxpayers as well as cities, schools, counties and other entities, Ristow said. “Then we’ll be able to provide feedback, which is what’s most important.”

The Senate Ways and Means Committee in early May unanimously approved Senate Study Bill 1227. However, the Iowa House has not yet considered similar legislation. The Iowa Legislature was unofficially set to adjourn May 2, but unfinished business has kept it in session. Lawmakers have been tackling issues related to eminent domain and the state’s budget.

The proposed Senate property tax reform bill would eliminate, in phases, the state’s rollback rate over 10 years and maintain a cap on property tax growth. It would also give Iowans a 25% discount on residential property values up to $125,000.

Elimination of the rollback – which limits how much of a property’s value can be taxed – is supported by the Washington, D.C.-based Tax Foundation. Abir Mandal, a senior policy analyst for the tax policy group, said rollbacks “basically ensure that the true value of your houses is not taxed.”

As Iowa lawmakers contemplate property tax reform, they should prioritize implementing levy limits and spending caps and the elimination of rollback provisions, Mandal said.

“Levy limits basically would give you tax relief without any market distortions,” Mandal said. Lawmakers “should eliminate the rollback provisions, especially the rollbacks that are at different values for different properties. Doing that would remove all the distortions.”