THE 101: Iowa Gov. Kim Reynolds, who announced she will not run for reelection this year, gave her final Condition of the State address last night.
WHY IT MATTERS: Property taxes and cancer care took center stage in Reynolds' speech.
"Property taxes are rising faster than inflation, faster than paychecks, and faster than population growth," Reynolds said. "In fact, over the last two years they've gone up more than 10% and that's not acceptable."
Lawmakers from both parties say the system is confusing, unpredictable and increasingly expensive. This year, there is pressure to act after multiple attempts at reform stalled in past sessions.
Under Reynolds' proposal, local governments would be limited to raising revenue by no more than 2% a year. Property tax assessments would happen every three years instead of every two. The governor is also proposing a property tax freeze for homeowners age 65 and older whose homes are worth less than $350,000.
"No one should be taxed out of their own front door," Reynolds said.
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