With the passage of a new law, certain Iowans can now apply for a property tax exemption.

Governor Kim Reynolds signed into law earlier this year House File 718, which allows for individuals who are 65 or older to claim a homestead tax exemption. According to the Iowa Department of Revenue the homestead tax exemption is for Iowans who are 65 and older and who own the home they live in on or before January 1st of the assessment year.

Additionally, the assessment year that was on January 1, 2023, the exemption will be $3,250 of taxable value, and then increase for $6,500 of taxable value for the assessment years beginning January 1, 2024. Eligible individuals can apply for the tax exemption by July 1st at your respective county assessor’s office. Finally, once an individual qualifies, they no longer have to re-apply in future years. Click the link below to access the application form.

https://tax.iowa.gov/forms/homestead-tax-credit-and-exemption-54-028