Iowa § 450B.5 - 450B.5 Ratio of applicable tax.
Full text of Iowa Iowa Code § 450B.5 — 450B.5 Ratio of applicable tax., with citation guidance and answers to common questions.
§ 450B.5. 450B.5 Ratio of applicable tax.
The amount of the additional inheritance tax imposed by section 450B.3 is the excess of what the tax imposed by chapter 450 would have been had the election to use the qualified use valuation under section 450B.2 not been made over the tax paid on the real estate based on qualified use valuation. However, if all of the real estate valued under section 450B.2 is not disposed of or does not cease to be used for the qualified use, the amount of the additional inheritance tax is the amount computed by applying the ratio that the real estate subject to the qualified use valuation which has been disposed of or which the qualified use ceases bears to all the real estate subject to the qualified use valuation passing to the taxpayer to the excess of the tax which would have been imposed by chapter 450 had the election under section 450B.2 not been made over the tax paid on the real estate based on qualified use valuation. However, the additional inheritance tax shall not be computed on a value greater than the fair market value of the qualified real estate at the time the disposition or cessation of the qualified use occurs. [81 Acts, ch 147, §16] Referred to in §450B.3 Fri Dec 12 20:29:22 2025 Iowa Code 2026, Section 450B.5 (18, 0)
Source: official Iowa text · Last verified 2026-08-27
Frequently Asked Questions About Iowa § 450B.5
What does Iowa Code § 450B.5 cover?
Section 450B.5 ("450B.5 Ratio of applicable tax.") is part of the Iowa Code, the codified statutory law of Iowa. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Iowa § 450B.5?
A common citation format is "Iowa Code § 450B.5" (Iowa). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Iowa law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Iowa official source linked on this page or consult a licensed Iowa attorney.
How does Iowa § 450B.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Iowa can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Iowa.