433.4 Assessment and exemption.
1. The department of revenue shall on or before October 31 each year, find the actual value of the property of telegraph and telephone companies in this state that is used by the companies in the transaction of telegraph and telephone business, taking into consideration the information obtained from the statements required, and any further information the department can obtain, using the same as a means for determining the actual value of the property of the companies within this state. The department shall also take into consideration the valuation of all property of the companies, including franchises and the use of the property in connection with lines outside the state, and making these deductions as may be necessary on account of extra value of property outside the state as compared with the value of property in the state, in order that the actual value of the property of the company within this state may be ascertained. The assessment shall include all property of every kind and character whatsoever, real, personal, or mixed, used by the companies in the transaction of telegraph and telephone business. The property so included in the assessment shall not be taxed in any other manner than as provided in this chapter.
2. a. For assessment years beginning on or after January 1, 2013, each company assessed for taxation under this chapter shall receive a partial exemption from taxation on the value of the company’s property as provided in this subsection.
b. For the assessment year beginning January 1, 2013, the total amount of the exemption for each company shall be equal to the sum of the following amounts:
(1) An amount equal to twenty percent of the actual value of the property of such company for that assessment year, as determined under subsection 1, that exceeds zero dollars but does not exceed twenty million dollars.
(2) An amount equal to seventeen and five-tenths percent of the actual value of the property of such company for that assessment year, as determined under subsection 1, that exceeds twenty million dollars but does not exceed fifty-five million dollars.
(3) An amount equal to twelve and five-tenths percent of the actual value of the property of such company for that assessment year, as determined under subsection 1, that exceeds fifty-five million dollars but does not exceed five hundred million dollars.
(4) An amount equal to ten percent of the actual value of the property of such company for that assessment year, as determined under subsection 1, that exceeds five hundred million dollars.
c. For the assessment year beginning January 1, 2014, and each assessment year thereafter, the total amount of the exemption for each company shall be equal to the sum of the following amounts:
(1) An amount equal to forty percent of the actual value of the property of such company for that assessment year, as determined under subsection 1, that exceeds zero dollars but does not exceed twenty million dollars.
(2) An amount equal to thirty-five percent of the actual value of the property of such company for that assessment year, as determined under subsection 1, that exceeds twenty million dollars but does not exceed fifty-five million dollars.
(3) An amount equal to twenty-five percent of the actual value of the property of such company for that assessment year, as determined under subsection 1, that exceeds fifty-five million dollars but does not exceed five hundred million dollars.
(4) An amount equal to twenty percent of the actual value of the property of such company for that assessment year, as determined under subsection 1, that exceeds five hundred million dollars.
3. For the assessment years beginning January 1, 2019, January 1, 2020, and January 1, 2021, following the partial exemption from taxation under subsection 2, each company assessed for taxation under this chapter shall receive an additional exemption from taxation on the value of the company’s property as provided in this subsection.
a. For the assessment year beginning January 1, 2019, the amount of the additional exemption for each company shall be equal to twenty-five percent of the amount of the company’s actual value, as determined under subsection 1, remaining following application of the exemption under subsection 2 for the assessment year.
b. For the assessment year beginning January 1, 2020, the amount of the additional exemption for each company shall be equal to fifty percent of the amount of the company’s actual value, as determined under subsection 1, remaining following application of the exemption under subsection 2 for the assessment year.
c. For the assessment year beginning January 1, 2021, the amount of the additional exemption for each company shall be equal to seventy percent of the amount of the company’s actual value, as determined under subsection 1, remaining following application of the exemption under subsection 2 for the assessment year.
[C97, §1330; S13, §1330; C24, 27, 31, 35, 39, §7034; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §433.4]
95 Acts, ch 83, §23; 2003 Acts, ch 145, §286; 2009 Acts, ch 60, §9; 2013 Acts, ch 123, §31, 38, 39; 2014 Acts, ch 1092, §93; 2015 Acts, ch 109, §25, 75; 2018 Acts, ch 1158, §14
Referred to in §433.5, 433.8
Structure Iowa Code
Chapter 433 - TELEGRAPH AND TELEPHONE COMPANIES TAX
Section 433.1 - Statement required.
Section 433.2 - Additional statement.
Section 433.3 - Failure to make statement.
Section 433.4 - Assessment and exemption.
Section 433.4A - Competitive long distance telephone company property.
Section 433.5 - Actual value per mile — exemption value per mile.
Section 433.6 - Taxable value.
Section 433.8 - Assessment in each county — how certified.
Section 433.9 - Entry of certificate.
Section 433.10 - Rate of taxation — collection.
Section 433.11 - Other real property.
Section 433.13 - Line operated by railroad.
Section 433.14 - Maps required.