426.1 Agricultural land
credit fund.
There is created as a permanent fund in the office of the
treasurer of state a fund to be known as the agricultural land credit fund, and
for the purpose of establishing and maintaining this fund for each fiscal year
there is appropriated thereto from funds in the general fund not otherwise
appropriated the sum of thirty-nine million one hundred thousand dollars of
which the first ten million dollars shall be transferred to and deposited into
the family farm tax credit fund created in section 425A.1. Any balance in said fund
on June 30 shall revert to the general fund.
[C39,
§6943.156; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §426.1]
93
Acts, ch 180, §11
"Agricultural lands" as used in this chapter shall
mean and include land in tracts of ten acres or more excluding any buildings or
other structures located on such land, and not laid off into lots of less than
ten acres or divided by streets and alleys into parcels of less than ten acres,
lying within any school corporation in this state and in good faith used for
agricultural or horticultural purposes.
Any land laid off or platted into lots
of less than ten acres belonging to and a part of other lands of more than ten
acres and in good faith used for agricultural or horticultural purposes shall
be entitled to the benefits of this chapter.
[C39,
§6943.165; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §426.2]
The agricultural land credit fund shall be apportioned each year
in the manner hereinafter provided so as to give a credit against the tax on
each tract of agricultural lands within the several school districts of the
state in which the levy for the general school fund exceeds five dollars and
forty cents per thousand dollars of assessed value; the amount of such credit
on each tract of such lands shall be the amount the tax levied for the general
school fund exceeds the amount of tax which would be levied on said tract of
such lands were the levy for the general school fund five dollars and forty
cents per thousand dollars of assessed value for the previous year, except in
the case of a deficiency in the agricultural land credit fund to pay said
credits in full, in which case the credit on each eligible tract of such lands
in the state shall be proportionate and shall be applied as hereinafter
provided.
[C39,
§6943.157, 6943.164; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81,
§426.3]
426.6 Computation by auditor - appeal.
The agricultural land tax credit allowed each year shall be
computed as follows: On or before April 1, the county auditor shall list
by school districts all tracts of agricultural lands which are entitled to
credit, together with the taxable value for the previous year, together with
the budget from each school district for the previous year, and the tax rate
determined for the general fund of the district in the manner prescribed in
section 444.3 for the previous year, and if such
tax rate is in excess of five dollars and forty cents per thousand dollars of
assessed value, the auditor shall multiply the tax levy which is in excess of
five dollars and forty cents per thousand dollars of assessed value by the
total taxable value of the agricultural lands entitled to credit in the
district, and on or before April 1, certify the amount to the department of
revenue.
In the event the county auditor denies a credit upon any such
lands, the auditor shall immediately mail to the owner at the owner's last
known address notice of the decision thereon. The owner may, within thirty
days thereafter, appeal to the board of supervisors of the county wherein the
land involved is situated by serving notice of said appeal upon the chairperson
of said board. The board shall hear such appeal promptly and shall
determine anew all questions involved in said appeal and shall within ten days
after such hearing, mail to the owner at the owner's last known address, notice
of its decision. In the event of disallowance the owner may, within ten
days from the date such notice is mailed, appeal such disallowance by the board
of supervisors to the district court of that county by serving written notice
of appeal on the county auditor. The appeal shall be tried de novo and
may be heard in term time or vacation. The decision of the district court
thereon shall be final.
[C39,
§6943.160 - 6943.163; C46, §426.4 - 426.6; C50, 54, 58, 62, 66, 71, 73,
75, 77, 79, 81, §426.6]
86
Acts, ch 1245, §442; 2001 Acts, ch
143, §3; 2002 Acts, ch
1119, §54; 2003 Acts, ch 145, §286
426.7 Warrants authorized by director.
After receiving from the county auditors the certifications
provided for in section 426.6, and during the following fiscal
year, the director of revenue shall authorize the department of administrative
services to draw warrants on the agricultural land credit fund created in
section 426.1, payable to the county treasurers
in the amount certified by the county auditors of the respective counties and
mail the warrants to the county auditors on July 15 of each year taking into
consideration the relative budget and cash position of the state
resources. However, if the agricultural land credit fund is insufficient
to pay in full the total of the amounts certified to the director of revenue,
the director shall prorate the fund to the county treasurers and notify the
county auditors of the pro rata percentage on or before June 15.
[C39,
§6943.157; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §426.7]
83
Acts, ch 172, §6; 86 Acts, ch
1244, §52; 2001 Acts, ch 143, §4; 2003 Acts, ch
145, §286; 2004 Acts, ch 1101, §52
426.8 Apportionment by auditor.
Upon receiving the pro rata percentage from the director of
revenue, the county auditor shall determine the amount to be credited to each
tract of agricultural land, and shall enter upon tax lists as a credit against
the tax levied on each tract of agricultural land on which there has been made
an allowance of credit before delivering said tax lists to the county
treasurer. Upon receipt of the warrant by the county auditor, the auditor
shall deliver said warrant to the county treasurer for apportionment. The
county treasurer shall show on each tax receipt the amount of tax credit for
each tract of agricultural land. In case of change of ownership the
credit shall follow the title.
[C39,
§6943.158; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §426.8]
86
Acts, ch 1245, §443; 2003 Acts, ch
145, §286; 2004 Acts, ch 1101, §53
426.9 Repealed by 89 Acts, ch
296, § 96.
The director of revenue shall prescribe forms and rules, not
inconsistent with this chapter, necessary to carry out its purposes.
[C54,
58, 62, 66, 71, 73, 75, 77, 79, 81, §426.10]
86
Acts, ch 1245, §444; 2003 Acts, ch
145, §286