Credits and Exemptions
It is the property owner's responsibility to apply for credits and exemptions as provided by law. It is also the property owner's responsibility to report to the Assessor when they are no longer eligible for any credit or exemption they have applied for. Following is a list of several credits and exemptions available in Iowa. Many of these forms must be completed in the Assessor's Office.
To qualify for the credit, the property owner must be a resident of Iowa and occupy the property on or before July 1 and for at least six months of every year. New applications for homestead tax credit are to be filed with the Assessor on or before July 1 of the year the credit is first claimed. Once a person qualifies, the credit continues until the property is sold or until the owner no longer qualifies. This credit reduces the value on which taxes are calculated by a maximum of $4,850.
To qualify for the exemption, the property owner must be 65 years of age or older by January 1 in the year of application in addition to meeting the above requirements. Applications are to be filed with the Assessor on or before July 1 of the year the exemption is to be claimed. The exemption reduces the assessed value by $6,500 before the rollback and levy are applied.Download: Application Form
Iowa Code: Chapter 425
Qualification is determined based on residency, type of discharge and time served. Military veterans including Iowa National Guard and United States Reservists may qualify. Contact the County Assessors' Office for additional information. Applications must be made with the Assessor on or before July 1 of the year the exemption is first claimed. The exemption remains in effect until the property owner is no longer eligible.Download: Application Form
Iowa Code: Chapter 426
This is a tax credit on agricultural tracts of land 10 acres or more that are farmed by the owner or immediate family members (this includes brothers/sisters, sons/daughters, grandchildren, great-grandchildren, uncles/aunts, nephews/nieces.) This credit needs to be filed by November 1st at the Assessor's office. It only needs to be filed once unless the ownership or the person actively engaged in farming changes.Download: Application Form
Iowa Code: Chapter 425A
Qualification is determined by classification. The property unit must be classified for tax purposes as Commercial, Industrial, or Railroad to qualify and not be assessed as Section 42 housing, a mobile home park, a manufactured home community, a leased land community, an assisted living facility, or primarily used or intended for use for human habitation (containing 3 or more dwelling units). Applications are not required. Once a property unit is eligible, the credit continues until the property is sold or until the use no longer qualifies.Iowa Code: Chapter 441.21