Iowa Revises Residential, Multiresidential Classification Rules

The Iowa Governor signed a law revising the residential and multiresidential property classification framework beginning Jan. 1, 2027. The law provides that only property primarily used for human habitation containing two or fewer dwelling units will automatically qualify as residential property. The law also includes significant changes to school district foundation property tax rates and introduces new classification for multiresidential properties. [S.F. 2472, enacted 05/18/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.