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

In addition to the homestead tax credit, 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. 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. 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.

The Iowa Department of Revenue has amended the Homestead Tax Credit and Exemption (54-028) to allow claimants to apply for the new exemption. Applications are due July 1 to the Humboldt County Assessor's Office. If the exemption is granted, the exemption will be allowed for future years without future filing as long as the claimant continues to qualify.   The form is also available to be filled out and submitted electronically.  Click the Real Estate Search button to the left of this screen and search for your parcel. 

The new law also more than doubles an existing property tax exemption for veterans. It increases the military service tax exemption to $4,000 in taxable value from the current $1,852 in taxable value, starting with the current assessment year that began Jan. 1. Military veterans currently receiving the exemption do NOT need to file a new application as long as the veteran or the veteran's spouse is the legal or equitable owner of the property on July 1 for which the exemption is allowed.  If you are not currently receiving the military service tax exemption, applications are due July 1 to the Humboldt County Assessor's Office. 

Please call 515-332-1463 if you have questions!