Geothermal Exemption

Exemption for value added by any new or refitted construction or installation of a geothermal heating or cooling system on or after July 1, 2012, on property classified as residential. This is a ten year exemption. Must meet the requirements contained in Iowa Code section 427.1(38) and the administrative rules in 701 IAC section 80.29. Person claiming the exemption shall file an application with the Assessor by February 1st.