A bill for an act relating to property assessment standards and litigation.

HF 2224 updates Iowa's property assessment rules to align with industry standards for fairness. It requires county and city assessors to maintain a coefficient of dispersion (COD) below 15.99% and a price-related differential (PRD) between 0.98 and 1.03 for property classes, using data from comparable properties within the same class. The bill also defines "like property" for appeals and limits hiring special counsel in assessment litigation to cases involving business entities. These changes directly affect local assessors, property owners appealing valuations, and county/city legal departments handling tax disputes. The law aims to standardize assessment equity metrics while streamlining appeal processes.