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Homestead Tax Credit

by Jonathan Bailey last modified 2020-03-18 11:33 AM

Any property owner in the State of Iowa who lives in the property can receive a homestead tax credit. To be eligible, a homeowner must occupy the homestead any six months out of the year, but must reside there on July 1. This exemption is a reduction of the taxable value of their property amounting to a maximum $4,850 or the amount which does not allow the taxable value to be less than zero. Homestead Tax Credit Form

Veterans with 100% service-related disability status qualify for this credit. Veterans also qualify who have a permanent and total disability rating based on individual unemployability paid at the 100% disability rate. The veteran must own and occupy the property as a homestead on July 1 of each year, declare residency in Iowa for income tax purposes and occupy the property for at least six months each year. Persons in the military or nursing homes who do not occupy the home are also eligible. A surviving spouse of a disabled veteran receiving DIC payments also qualifies. The surviving spouse as a beneficiary of the estate of a veteran who received the credit may continue to receive the credit as long as the spouse resides in the qualified homestead and does not remarry. Disabled Veteran Homestead Form

Filing Requirements: Claim must be filed on or before July 1. A current Benefits Paid letter and a DD214 must be included with your application to the Assessor’s Office. 

See Code of Iowa Chapter 425.

You must come to the Assessors office to apply for this exemption.

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