Credits and Exemptions

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 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.

In addition to the homestead tax credit, eligible claimants who are 65 years of age or older on or before January 1 of the assessment year are now eligible for a homestead tax exemption. For the assessment year beginning on January 1, 2023, the exemption is for $3,250 of taxable value. For assessment years beginning on or after January 1, 2024, the exemption is for $6,500 of taxable value. Claimants are able to file a claim for this exemption on the same form as the claim for credit. When a homestead credit claim is approved, the exemption will also be granted if the claimant meets the age criteria for that assessment year. If the claim for the exemption is successful, the exemption will be applied in successive years without needing to file again. 

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.

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.