Credits and Exemptions

Homestead Tax Exemption

To qualify for the homestead exemption, 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. To qualify for the  65+ exemption, the property owner must be 65 years old or older on January 1 of the year they are applying for. New applications for homestead tax homestead exemption and  65+ exemption are to be filed with the Assessor on or before July 1 of the year the exemption is first claimed. Once a person qualifies, the exemption continues until the property is sold or until the owner no longer qualifies.

For assessment years beginning on or after January 1, 2024, the 65+ exemption is for $6,500 of taxable value. Beginning with assessment year 2026, the homestead exemption is 10% of the taxable value of the homestead (minimum $5,500, maximum $20,000, adjusted annually for inflation). For more details, visit the Iowa Department of Revenue.

Military Tax Credit

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.

Family Farm Tax Credit

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.

Barn Preservation

Cattle Facilities

Exemption is based on the actual value added to owner-operated cattle facilities, including small or medium-sized feedlots, either by new construction or by the retrofitting of existing facilities.

Disabled Veteran

The included Homestead Tax Exemption (54-028) form must be submitted with your Disabled Veteran tax credit application.

Forest/Fruit Tree Reservations

Geothermal

Historic Property

Impoundment Structures

The impoundment must contain at least 18 acre-feet of water, be outside of a city limits and be used for agricultural purposes to qualify for exemption.

Industrial Partial 427B

Property must be an industrial warehouse, distribution center or research facility to qualify.

Mobile Home Park Storm Shelter

Native Prairie or Wetlands

The first annual application shall be accompanied by a certificate from the Department of Natural Resources stating that the land is native prairie or protected wetland.

Natural Conservation or Wildlife Areas

Open Prairie

Pollution Control

The application for pollution control or recycling property shall be accompanied by a certificate from the environmental protection division of the Iowa DNR.

Religious, Literary, and Charitable Societies

Urban Revitalization

The governing body of a city may, by ordinance, designate an area of the city or the governing body of a county may, by ordinance, designate an area of the county outside the boundaries of a city, as a revitalization area, if that area meets certain criteria: See Code of Iowa Chapter 404. The cities of Albion, LeGrand, Liscomb, and Marshalltown currently have adopted Urban Revitalization ordinances. Please contact the city clerk of these cities with questions or to make application.