Iowa law provides for a number of credits and exemptions. It is the property owner's responsibility to apply for these as provided by law. It is also the property owner's responsibility to report to the Assessor when they are no longer eligible for any credit or exemption they have applied for. Following is a list of several credits and exemptions available in Iowa.

NOTE: Many of these forms must be completed in the Assessor's Office.

 

HOMESTEAD TAX CREDIT


To qualify for the credit, the property owner must be a resident of Iowa and occupy the property on July 1 and for at least six months of every year. New applications for homestead tax credit are to be filed with the Assessor on or before July 1 of the year the credit is first claimed. Once a person qualifies, the credit continues until the property is sold or until the owner no longer qualifies. This credit reduces the value on which taxes are calculated by a maximum of $4,850. (Refer to Code of Iowa, Chapter 425)

 

MILITARY TAX EXEMPTION


Qualification is determined based on residency, type of discharge and time served. Military veterans including Iowa National Guard and United States Reservists may qualify. Contact the County Assessors' Office for additional information. Applications must be made with the Assessor on or before July 1 of the year the exemption is first claimed. The exemption remains in effect until the property owner is no longer eligible. (Refer to Code of Iowa Chapter 426)

 

FAMILY FARM TAX CREDIT


This is a tax credit on agricultural tracts of land 10 acres or more that are farmed by the owner or immediate family members (this includes brothers/sisters, sons/daughters, grandchildren, great grandchildren, uncles/aunts, nephews/nieces.) This credit needs to be filed be November 1st at the Assessor's office. It only needs to be filed once unless the ownership or the person actively engaged in farming changes. (Refer to Code of Iowa Chapter 425A)

 

BUSINESS PROPERTY TAX CREDIT

 

Qualification is determined by classification.  The property must be classified for tax purposes as Commercial, Industrial, or Railroad to qualify and not be assessed as Section 42 housing, a mobile home park, a manufactured home community, a leased land community, an assisted living facility or primarily used or intended for use for human habitation (containing 3 or more dwelling units).  Applications are to be filed with the Assessor on or before March 15th for the previous year in which the credit is first claimed.  Once a property qualifies, the credit continues until the property is sold or until the use no longer qualifies. (Refer to Code of Iowa Chapter 426C)

Following is a list of several other credits/exemptions administered by the Assessor's office. Filing is required on them as provided by Iowa law.

Credit/Exemption

Forest Reserve

Fruit Tree Reservation

Forest Cover

Open Priaire

Wetlands

Native Prairie

Wildlife Habitat

Impoundment Structures

Pollution Control

Cattle Facilities

Historic Property

Urban Revitalization

Industrial Partial 427B

Disabled Veteran

Time Period

Permanent

Permanent

Annual

Annual

Annual

Annual

Annual

Annual

Permanent

5 Years

4/4 Years

By Ordinance

5 Years

Annual

Contact For Eligibility

Assessor

Assessor

Soil Conservation Service

Soil Conservation Service

DNR State Wildlife Biologist/Assessor

DNR State Wildlife Biologist/Assessor

DNR State Wildlife Biologist/Assessor

Assessor

Assessor

Assessor

State Historical Society/Assessor

City/County Assessor

Assessor

Local Administrator Veterans Affairs/Assessor

Filing Deadline

Feb. 1

Feb. 1

Feb. 1

Feb. 1

Feb. 1

Feb. 1

Feb. 1

Feb. 1

Feb. 1

Feb. 1

Feb. 1

Feb. 1

Feb. 1

July 1

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