Gov. Kim Reynolds has signed a law limiting how much revenue local governments can raise from property taxes, a change projected to lower Iowans' property tax payments by $4.2 billion over six years. Surrounded by GOP state lawmakers who championed the measure, Reynolds on Monday, May 18, signed Senate File 2472 overhauling Iowa's property tax system. The new law implements a 2% growth cap on local governments' general levies, with exceptions for new construction, and an inflation-adjusted 10% homestead tax exemption up to $20,000. It gives GOP lawmakers a long‑sought win, finally delivering action on what they called their top priority for the past two years as they head into a competitive midterm election cycle. Tap the link in our bio for more on this story. #Iowa #IApolitics #IAlegis