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1. What is a Homestead Credit?

The homestead credit is a property tax credit for Iowa residents who own and occupy their homestead on July 1st and for at least six months of the calendar year. It is a tax credit funded by the state, for qualified homeowners and is based on the first $4,850 of actual value of the homestead. You may apply for this credit in person in the Assessor’s Office.

2. What is a Military Exemption?

Veterans who served in active duty, and who were honorably discharged, are eligible to receive a military exemption on their property taxes. If you served in active duty for 18 months, you may be eligible. You may apply for this credit in person in the Assessor’s Office.

3. How do I apply for Homestead Credit or Military Exemption?

Your local Assessor has forms that you need to complete, sign, and file for the homestead credit and/or military exemption, and can discuss the qualifications required for each. Remember, it is the property owner’s responsibility to apply for all credits and exemptions as provided by law at the Assessor’s Office. You are also required to report if you become no longer eligible for a credit or exemption.

4. Do I need to sign up for the Homestead Credit every year?

No, once you have signed for your Homestead Credit, it will stay effective for as long as you reside in the home. You are required to report if you move out of the property. You are only eligible for the Homestead Credit for as long as you reside in the home.

5. I know I applied for the Homestead Credit and/or Military Credit, why is it not on my tax statement?

Depending on when the Homestead Credit application or Military Exemption application was signed by the property owner, it could take more than 24 months for the credit or exemption to show on the property tax statement. July 1st is the deadline for filing for the Homestead Credit or Military Exemption for the current assessment year. If the application is received after July 1st, the credit or exemption will not be applied until the next assessment year.

6. What is the Business Property Tax Credit, and how can I apply?

The Business Property Tax Credit is a credit available for certain commercial, industrial and railroad properties. The credit is applicable to individual parcels as well as “property units.” One credit is available for each qualified parcel or property unit. You must apply for the credit by completing an application at the County Assessor’s Office. The deadline for this application is July 1st for the current assessment year.

7. What Credits and Exemptions might I be eligible for?

There are several credits and exemptions that may be applied for at the Assessor’s Office. Each credit or exemption has specific criteria and rules. Some only need to be signed up for one time, and others must be applied for each year. Please check with the Assessor to see if you qualify for any of the following:
- Barn and One Room Schoolhouse
- Business Property Tax Credit
- Disabled Veteran Homestead
- Family Farm Credit
- Forest and Fruit Tree Reserve
- Homestead Credit
- Native Prairie and Wetland
- Religious, Literary and Charitable Societies
- Urban Revitalization