|
Credits & Exemptions
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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 
SERVICES & INFORMATION