Johnson County Officials Fret Over Loss of Funding Following Property Tax Cuts: Iowa City Daily News Links, June 14

Friday. Nice weather. Superman. 'merica!

On to the Links!

Adam Sullivan of the Iowa City Press-Citizen writes that local municipalities are worried about the loss of funding to municipalities following the signing of a large property tax cut.

Meanwhile, members of both parties lauded the cuts at a signing ceremony in Hiawatha.

From the stories that make you frown deeply category, two lawyers were found guilty of overcharging a mentally ill Vietnam veteran. (Press-Citizen via Associated Press)

"An Iowa City poet and artist says he was shocked to learn a piece of his artwork shutdown much of downtown Iowa City Sunday night..."  (KCRG)

Little Village magazine has a preview of this weekend's events. 

"Iowa's Hispanic population continues to increase at a much higher rate than the state's overall population." (Press-Citizen via Associated Press) 

A Daily Iowan preview of MusicIC.

Iowa Senator Tom Harkin pushes for more investigation into NSA domestic spying. (Des Moines Register)

Daily Links Excerpt of the Day

Here are details on four of the main components of the state’s new property tax law. 

• Residential assessment limitation: The taxable value of a residential property will only grow by a maximum of 3 percent each year, instead of the previous 4 percent limit. 

• Commercial/industrial rollback: Commercial and industrial properties have historically been taxed at 100 percent of their value. In fiscal 2015, those properties will be taxed at a 95 percent value and 90 percent value in subsequent years. 

• Multi-residential property classification:Apartments, assisted-living facilities, mobile-home parks, etc. will be taxed at residential rates, rather than the higher commercial rates. 

• Telecommunication property: Taxes on some telecommunication properties will be reduced.