NEW IOWA PROPERTY TAXPAYER EXEMPTION

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

In addition to the existing homestead tax CREDIT (approximately $100), eligible claimants who own the home they live in and are 65 years of age or older on or before January 1 of the assessment year are now eligible for a homestead tax EXEMPTION that reduces the homeowners assessed value.

For the assessment year beginning on January 1, 2023, the exemption reduction 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. This EXEMPTION is a reduction in the taxable value of the property. The existing Homestead Tax CREDIT is a direct reduction in the property tax to be paid.

The Iowa Department of Revenue has amended the Homestead Tax Credit and Exemption Form (54-028a) to allow claimants to apply for the new exemption. Applications are due July 1 to your local assessor. If the exemption is granted, the exemption will be allowed for future years without future filing provided the claimant continues to qualify.

The mailing address for the Dickinson County Assessor is:
DICKINSON COUNTY ASSESSOR
1802 HILL AVENUE
SPIRIT LAKE, IA 51360