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Iowa law provides for a number of credits and exemptions. It is the property
owner’s responsibility to apply for these 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.
HOMESTEAD TAX CREDIT
To qualify for the credit, the property owner must be a resident of Iowa and
occupy the property on July 1 and for at least six months 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.
(Refer to Code of Iowa, Chapter 425)
MILITARY TAX EXEMPTION
To qualify for the exemption, the property owner must be a resident of Iowa,
have been involved in a full-time active duty during a war or conflict, and have
been honorably discharged. New applications must be made with the Assessor on or
before July 1 of the year the exemption is first claimed. As with the Homestead
Tax Credit, the exemption remains in effect until the property owner is no
longer eligible. This exemption is worth the taxes calculated on $2,778 for WWI
veterans and $1,852 for all others after that time.
(Refer to Code of Iowa, Chapter 427)
FAMILY FARM TAX CREDIT
This is a tax credit on agriculture tracts of land consisting of 10 acres or
more that are farmed by the owner or the owner’s immediate family members.
(Immediate family includes spouse, brothers/sisters, sons/daughters,
grandchildren, great grandchildren, uncles/aunts, nephews/nieces). New
applications for Family Farm tax credit are to be filed with the Assessor on or
before November 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.
(Refer to Code of Iowa, Chapter 425A)
Following is a list of several other credits and exemptions administered by the
Assessor’s office. Filing is required on them as provided by Iowa law.
| EXEMPTION |
FILING DEADLINE |
FILING REQUIREMENT |
| Barn & One-Room School House |
February 1 |
One Time |
| Exempt Property- Religious, Literary, Charitable |
February 1 |
One Time |
| Forest Reservation |
February 1 |
One Time |
| Fruit Tree |
February 1 |
One Time |
| Historic Property |
February 1 |
One Time |
| Impoundment Structure |
February 1 |
Annual |
| Indian Housing Authority |
February 1 |
One Time |
| Industrial Property Tax |
February 1 |
One Time |
| Low Rent Housing |
February 1 |
One Time |
| Methane Gas Conversion |
February 1 |
One Time |
| Mobile Home Park Shelter |
February 1 |
One Time |
| Natural Conservation of Wildlife Areas |
February 1 |
Annual |
| Native Prairie |
February 1 |
Annual |
| Pollution Control |
February 1 |
One Time |
| Recycling |
February 1 |
One Time |
| Speculative Shell Building |
February 1 |
One Time |
| Urban Revitalization |
February 1 |
One Time |
| Wetlands |
February 1 |
Annual |
| Wildlife Habitat |
February 1 |
One Time |
| Disabled Veteran Homestead |
July 1 |
Annual |
| Homestead |
July 1 |
One Time |
| Military |
July 1 |
One Time |
| Family Farm |
November 1 |
One Time |
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