A representative of a company that owns two apartment complexes in Newton spoke at a public hearing at the State Capitol on Tuesday, in an attempt to persuade Iowa House members to reject a Senate proposal that would increase taxes on their properties. Iowa Senators want to create a new tax classification with a higher rate for apartments, condos, and assisted living facilities. Currently, these properties are taxed as residential property.
Debbie Fisher, a senior advisor at Newbury Living, spoke at the public hearing for the Iowa Assisted Living Association. Newbury Living owns two apartment complexes in Newton, Greystone Apartments and Suncrest Village, which provides apartments for seniors and those with disabilities. Fisher said there are nearly 500 certified assisted living communities in Iowa, and the average age of residents in them is 87. So she told House members it’s critical to prevent a shift in the tax burden for these essential apartment homes for the state’s most frail elders. Fisher added that a ripple effect would occur if property taxes go up on assisted living facilities. She said rents would increase, and older Iowans would stay in their homes longer, providing less inventory for home buyers.
