This offseason, my goal has been to write a newsletter whenever I see a statewide topic mischaracterized on the campaign trail. My last newsletter, published a few months ago, focused on health care in Iowa and the dangers of certain misinformed beliefs regarding how our system is managed.
Recently, affordability has become a dominant topic in conversation. It is a critical issue, and I have enjoyed hearing candidates talk about their views. However, what has struck me as a bit strange is how heavily housing is being featured in Rob Sand’s campaign. While it is completely fair game for him to discuss, his critique feels surprising when you step back and look at where Iowa stands nationally. Many Iowa voters may not realize how strong our housing situation is unless they travel to other states or dive into the data.
According to Realtor.com, Iowa ranks number one for homebuyer affordability, number two for homebuilding, and number six for renter affordability. However, Iowa does have some of the oldest housing stock in the country. The median home in Iowa was built in 1972. Nationally, the average is 1981.
In a recent interview, Rob Sand shared his desire to cut red tape and lower fees for first-time homebuyers. These are proposals I am more than happy to investigate, however, looking at the big picture, it is difficult to see how he can claim homeownership in Iowa has been harmed by Republican control.
Senate File 2472, passed earlier this year, modernizes Iowa’s property tax system to help lower costs for Iowans. To protect homeowners from rising expenses, levy rates will automatically drop whenever property values inflate. The bill provides immediate savings by giving all Iowans a 10% discount on their home’s taxable value, while reducing living costs for seniors and disabled residents by offering additional relief. It also helps reduce the barrier to homeownership and assists first-time homebuyers by creating First Home Iowa accounts. Ultimately, this bill keeps more money in the pockets of Iowans and makes homeownership for affordable. Earlier this summer, a study even came out saying this law would save each Iowa household over $1,400 a year for the next several years.
According to Iowa Economic Development, Iowa is forecasted to need 18,000 new homes to meet demand by 2030, and we are well on our way to hitting that goal. Focusing on a more local perspective, people have asked me how the Daisy facility might impact the market. Thankfully, Boone had already been building new housing before the Daisy announcement. As a result, approximately 550 new units are coming to the market, positioning our community well to absorb the estimated 120 to 220 homes needed for incoming Daisy employees.
Property taxes continue to be the largest local issue I hear people express concern about regarding homeownership. Thankfully, our property tax reform bill will take effect next year. Between that legislation and the forecasted growth of Boone’s tax base, I believe residents should be optimistic about our homeownership future, both here in Boone County and across the state!