Iowa Code Title I. State Sovereignty and Management [Chs. 1-38D] § 15.510. Property tax exemption

1. If an eligible business has been authorized by the board to receive tax incentives under the program, a community in which the eligible business's project is located may grant the eligible business a property tax exemption for a portion of the actual value added by improvements to real property through the project.  The community may allow a property tax exemption for a period not to exceed ten years beginning the year that the improvements to real property are first assessed for taxation.

2. For purposes of this section, “improvements” means new construction, and rehabilitation of and additions to existing structures.

3. A property tax exemption granted under subsection 1 shall apply to all taxing districts, except for school districts, in which the real property is located.