Property Tax Credit & Exemptions

Iowa law provides for a number of exemptions and credits, including Homestead Credit and Military Exemption. It is the property owner’s responsibility to apply for these as provided by law. If the property you were occupying as a homestead is sold, or you cease to use the property as a homestead, you are required to report this to the Assessor in whose jurisdiction the property is located.  

The following is a list of common credits offered, who is eligible to receive these credits and how to apply. 
  1. Ag Land Credit

    This credit was established to partially offset the school tax burden borne by agricultural real estate.

  2. Barn & One Room School House

    Exempts from taxation the increase in assessed value from improvements made to barns constructed prior to 1937 and one room school houses.

  3. Business Property Tax Credit

    This credit is available for certain commercial, industrial and railroad properties.

  4. Disabled Veteran Homestead

    Veterans with 100% service related disability status qualify for this credit. Veterans also qualify who have a permanent and total disability rating based on unemployability paid at the 100% disability rate.

  5. Family Farm Land Credit

    Credit established to partially offset the school tax burden borne by agricultural real estate.

  6. Forest & Fruit Tree Reservation

    Provides an exemption for property established as a forest or fruit tree reservation.

  7. Geothermal Exemption

    Exemption for value added by any new or refitted construction or installation of a geothermal heating or cooling system on or after July 1, 2012, on property classified as residential.

  8. Historic Property Rehabilitation

    Property approved by the Assessor is eligible for a property tax exemption for up to four years if it meets the definition of “historic property.”

  9. Homestead Credit

    Originally adopted to encourage home ownership through tax relief.

  10. Industrial, Research-Service, Warehouses Exemption

    Exemption to encourage industrial and commercial development.

  11. Military Exemption

    Reduces the taxable value of property for military veterans.

  12. Native Prairie/Wetlands Exemption

    This is an exemption for land preserved in its natural condition.

  13. Religious, Educational & Charitable Property

    This is an exemption is for property used for religious, education or charitable purposes.

  14. Urban Revitalization Exemption

    Urban Revitalization Exemption is a value-added exemption, to encourage development in urban areas.

  15. Wind Energy Property Exemption

    This exemption promotes energy conservation.