Time is running out for certain individuals to apply for a new property tax credit.

The Iowa Legislature passed House File 718 and it was signed into law by Governor Kim Reynolds for Iowans that are 65 and older to claim a homestead tax exemption. According to the Iowa Department of Revenue, eligible individuals who own their home that they live in on or before January 1, 2023 can have $3,250 of their property taxable value exempt. Then after that, starting with the assessment year on January 1, 2024, the exemption goes up to $6,500, and will continue for the future. 

Applications must be filled out by July 1st. Once someone qualifies for the homestead tax exemption, they do not need to re-apply. Click the link below to access the application form.

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