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Iowa

Iowa

Incentives/Policies for Renewables & Efficiency

Printable Version
Local Option - Special Assessment of Wind Energy Devices   

Last DSIRE Review: 08/13/2012
Program Overview:
State: Iowa
Incentive Type: Property Tax Incentive
Eligible Renewable/Other Technologies: Wind
Applicable Sectors: Commercial, Industrial, Residential, Agricultural
Amount:Property valued at 0% of the net acquisition cost in the first assessment year, increasing annually by 5 percentage points to a maximum of 30% of the net acquisition cost in the 7th and succeeding years
Start Date:01/01/1994
Web Site: http://www.state.ia.us/tax/locgov/propwindcode.html
Authority 1:
Iowa Code § 427B.26
Authority 2:
IAC 701—80.13(1)
Summary:

Any city or county in Iowa may pass an ordinance assessing wind energy conversion equipment at a special valuation for property tax purposes, beginning at 0% of the net acquisition cost in the first assessment year and increasing annually by five percentage points to a maximum of 30% of the net acquisition cost in the 7th and succeeding years.

If a city or county repeals the ordinance, the wind energy property shall be valued at the special rate until the end of the 19th assessment year following the first assessment year. Once this period has ended, the property is valued at the market value rather than 30% of net acquisition cost. The taxpayer must file for the special valuation by February 1 of the assessment year in which the wind system is first assessed for property tax purposes.

An October 2008 opinion from the Iowa Department of Revenue (DOR) clarifies that Iowa Code § 427B.26 does not allow for partial assessments of wind energy property and that wind plants are not subject to assessment until they are completed.

If an ordinance has not been adopted, or if the taxpayer fails to file for the special valuation, the system shall be assessed by the DOR under Iowa Code 428.24 to 428.29 and 441.21(8). These statutes provide that the assessable and taxable value of property shall not increase with the new construction of wind or solar energy systems for five years. See the entry for Property Tax Exemption for Renewable Energy Systems for more details.


 
Contact:
  Energy Team
Iowa Economic Development Authority
200 East Grand Avenue
Des Moines, IA 50309
Phone 2: (515) 725-0434
Web Site: http://www.energy.iowa.gov/
 
  Public Information - Revenue
Iowa Department of Revenue
Hoover State Office Building
1305 E. Walnut
Des Moines, IA 50319
Phone: (800) 367-3388
Phone 2: (515) 281-3114
Fax: (515) 242-6487
Web Site: http://www.iowa.gov/tax/index.html
 
 
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.