House and Senate Republicans are proposing a $50,000 property tax exemption for every Iowa household as they roll out a new bill that seeks to refine their vision for overhauling the state's property tax system. The identical bills, House Study Bill 328 and Senate Study Bill 1227, were released Wednesday. The legislation makes several changes to a previous bill that lawmakers unveiled a month ago. Each household in Iowa would be eligible for a $50,000 homestead exemption on the taxable value of their home, under the bill. That means if an Iowan lived in a home worth $200,000, they would pay taxes on $150,000 of that value when factoring in the exemption. Tap the link in our bio for more on this story. #Iowa #IApolitics #IAlegis #propertytaxes