NEW Homestead Tax Exemption

By Michelle Price - June 14, 2023

Attention Iowa Homeowners 65 years of age or older!

There is a new Homestead Tax Exemption for You!

Click here to watch 2 minute video!

On May 4, 2023, Governor Reynolds signed House File 718, establishing a new homestead tax exemption for claimants 65 years of age or older.

In addition to the homestead tax credit which you probably already have taken advantage of, NOW you can also claim a homestead tax EXEMPTION.

Qualifications are: you own the home you live in and are 65 years of age or older on or before January 1st of the assessment year.

For the assessment year beginning on January 1, 2023, the exemption is for $3,250 of taxable value.
For assessment years beginning on or after January 1, 2024, the exemption is for $6,500 of taxable value.

Keep in mind, an exemption is a reduction in the TAXABLE VALUE of the property rather than a direct reduction in the amount of property tax you pay just like the homestead tax credit is.

Applications are due July 1st to your local assessor. If the exemption is granted, the exemption will be allowed for future years without future filing as long as you continue to live in that home.

If you move, you can of course reapply under the new address just as you would with the homestead tax credit.

Here's what you need to do by July 1st if you are 65 years or older!
Go to your county's assessors website and search for the clickable link to the application, usually in blue. Or you can walk in to your county's assessor's office to apply in person..

Here are links for Dallas county, Polk county, and Warren county: