Iowa Code » Chapter 427A — PERSONAL PROPERTY TAX REPLACEMENT
Iowa Code

Iowa Code § 427A.2 (2026)

Personal property not subject to property tax

✓ current as of July 2026
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Personal property shall not be listed or assessed for taxation and is not subject to the property tax. 95 Acts, ch 67, §33

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427A.3 through 427A.11 Reserved.

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Notes of Decisions
Cited in 6 cases (1 in the last 5 years), 1984–2026 · leading case: Fennelly v. A-1 Mach. & Tool Co., 728 N.W.2d 163 (Iowa 2006).
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Fennelly v. A-1 Mach. & Tool Co., 728 N.W.2d 163 (Iowa 2006). · cites it 7× “67, § 33 (codified at Iowa Code § 427A.2 (1997)). Whether in 1987, 1995, or any time between or after those dates, however, all tangible property defined as real property under section 427A.”
Burlington N. R.R. v. Bair, 584 F. Supp. 1229 (S.D. Iowa 1984). · cites it 4× “Section 427A.2, Code of Iowa, allows a credit, not to exceed $10,000, against the rolled-back, assessed value of tangible personal property owned by persons and busi *1234 ness enterprises.”
Burlington N. R.R. v. Bd. of Supervisors of Adair Cnty., 418 N.W.2d 72 (Iowa 1988). · cites it 4× “Iowa Code §§ 427A.2, .9. Under the statutory scheme all property traditionally considered personal property which is owned by a railroad is nevertheless taxed as real property.”
Burlington N. R.R. v. Bair, 766 F.2d 1222 (8th Cir. 1985). “See Iowa Code §§ 427A.2, .9. The effect of this scheme is to exempt ninety-five percent of personal property owners from taxation.”
Chickasaw Cnty. Bd. of Review v. Prop. Assessment Appeal Bd.; & Growmark, Inc (Iowa 2026). · cites it 2× “§ 427A.2 (“Personal property shall not be listed or assessed for taxation and is not subject to the property tax.”
Bill Fennelly, Scott Cnty. Treasurer Vs. A-1 Mach. & Tool Co. (Iowa 2006). · cites it 3× “67, § 33 (codified at Iowa Code § 427A.2 (1997)). Whether in 1987, 1995, or any time between or after those dates, however, all tangible property defined as real property under section 427A.”
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