The Iowa Golf Association wants to alert its member clubs to the existence of a new administrative rule that went into effect on March 7, 2007. The rule amended language states that “The assessor is required to classify and value property according to its present use rather than its potential use. For example, property currently used as a golf course shall be assessed and valued by the assessor as a golf course even though its highest and best potential use may be an industrial park or commercial development.”
Course owners and boards of directors should check their current assessments to be sure that they are being assessed under the guidelines of this newly implemented language. Make sure your assessor knows about this new administrative rule before your new property tax valuations come out on April 15 so that changes are taken into account in your valuation.
In addition, legislation is presently being considered in subcommittees of both the House and Senate to reclassify golf course properties as recreational property rather than commercial property. Contact your legislators and recommend passage!!