Hubbell: Iowa property tax law isn't working

Democratic gubernatorial candidate Fred Hubbell, a director for the Macerich real estate investment firm that was a big beneficiary of Iowa’s 2013 property tax reforms, said Wednesday the law isn’t changing the way the shopping mall owner operates in the state and ought to undergo a major overhaul.

Hubbell is one of seven Democrats so far running for governor. Although others also have been critical of state tax breaks for businesses, his position on the board of one of the country’s largest mall operators, which owns NorthPark Mall in Davenport and Southridge Mall in Des Moines, offers a different perspective.

Hubbell said Wednesday he had spoken to the chief executive of the Santa Monica, Calif., company and that the 2013 law is a “nonevent.”

“He’s been clear about it, that Macerich never expected to get this benefit, they never asked for the benefit. It’s just not made any changes whatsoever in their plans for those malls, in terms of hiring people or reinvesting in the malls,” Hubbell said.

Read more: http://www.thegazette.com/subject/news/government/hubbell-iowa-property-tax-law-isnt-working-20170920