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Property Tax Credits and Exemptions

Forms for these credits and exemptions are included with the descriptions.

Ag Land Credit

Barn and One-Room School House

Broadband Property Tax Exemption

Business Property Tax Credit

Computers and Industrial Machinery and Equipment Special Valuation

Data Center Business Property Exemption

Elderly and Disabled Rent Reimbursement

Family Farm Land Credit

Forest and Fruit Tree Reservations Exemption

Geothermal Heating and Cooling System Exemption

Grain Tax Return

Historic Property Rehabilitation Tax Exemption

Homestead Credit and Disabled Veteran's Homestead Tax Credit

Impoundment Structures Exemption

Industrial Property, Research-Service Facilities, Warehouses, Distribution Centers and Cattle Facilities Exemption

Local Option Remedial Action

 

Low-Rent Housing Exemption

Methane Gas Conversion Property Exemption

Manufactured Home Community or Mobile Home Park Storm Shelter 

Military Exemption

Mobile Home Reduced Tax Rate

Native Prairie/Wetlands Exemption

Natural Conservation and Wildlife Areas Exemption

Notice of Assessment of Omitted Property

Pollution Control and Recycling Exemption

Property Tax Credit - Senior and Disabled

Religious, Educational and Charitable Property Exemption

Section 42 Reporting Form

Special Assessment Credit

Speculative Shell Buildings Exemption

Urban Revitalization Exemption

Value-Added Agricultural Products Exemption

Web Search Portal Exemption

Wildlife Habitat Exemption

Wind Energy Property Exemption

 

Iowa Ag Land Credit

Description: This credit was established to partially offset the school tax burden borne by agricultural real estate. Current law allows a credit for any general school fund tax in excess of $5.40 per $1,000 of assessed value.

Eligibility: All land used for agricultural or horticultural purposes in tracts of 10 acres or more and land of less than 10 acres if contiguous to qualifying land of 10 acres or more.

Filing Requirements: Land owners are not required to file a claim. The county auditor determines the amount of credit applicable to each tract of land.

Form: No form is needed.

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Iowa Barn and One-Room School House Property Exemption

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

Filing Requirements: Application must be filed with assessing authority by February 1 of the first year the exemption is requested.

Eligibility: The exemption for a barn continues as long as the structure is used for the storage of farm products or feed or for the housing of farm animals or farm equipment. 

The exemption for the school house continues as long as the structure is not used for dwelling purposes and is preserved as a one-room school house.

Form: Application for Barn and One-Room School House Preservation Property Tax Exemption 54-018

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Iowa Computers and Industrial Machinery and Equipment Special Valuation

Description: Computers and industrial machinery and equipment acquired after 12/31/93 are exempt from tax.

Eligibility: Special valuation applies to all computers but only to machinery and equipment classified as industrial real estate.

Form: No form is needed.

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Iowa Data Center Business Property Exemption

Description: Exemption for certain property other than land and buildings that is purchased by a data center business. This includes computers and equipment that are necessary for the maintenance and operation of a data center business.

Eligibility: The data center business must meet the requirements contained in Iowa Code section 423.3 subsection 95.

Filing Requirements: The owner must file an application with the assessor by February 1 of the first year the exemption is claimed.

Form: Data Center Business Application for Property Tax Exemption 54-009

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Iowa Elderly and Disabled Citizen's Rent Reimbursement

Description: Incorporated into the Homestead Tax Law to provide rent relief. Property that is tax exempt does not qualify for rent reimbursement.

Eligibility: Must be 65 or older or totally disabled, and meet annual household low income requirements.

Filing Requirements:  Renters must file with the Department of Revenue by June 1 to claim reimbursement for rent paid in the prior calendar year. The director or county treasurer may grant extensions of time to file.

Form: 54-130

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Iowa Family Farm Land Credit

Description: Credit established to partially offset the school tax burden borne by agricultural real estate. Current law allows a credit for any general school fund tax in excess of $5.40 per $1,000 of assessed value.

Eligibility: All land used for agricultural or horticultural purposes in tracts of 10 acres or more and land of less than 10 acres if contiguous to qualifying land of more than 10 acres. The owner or designated person must be actively engaged in farming the land.

Filing Requirements: Claims must be filed with the assessor by November 1. Subsequent claims are not required if ownership and designated person actively engaged in farming remain the same.

Form: Family Farm Tax Credit 54-023

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Iowa Forest and Fruit Tree Reservations Exemption

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

Eligibility: Forest Reserve: Minimum of two acres, with not less than 200 trees per acre. Fruit Tree Reserve: Not less than one nor more than 10 acres, with at least 40 apple trees or 70 other fruit trees.

Exemption: 8 years for fruit tree reservations. Neither reserve can be used for economic gain other than raising trees, nor is livestock permitted on the reservation. Must meet the criteria established by the Iowa Department of Natural Resources.

Filing Requirements: Application must be filed with assessor by February 1.

Form: Forest or Fruit Tree Reservation Exemption 56-067

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Iowa Geothermal Heating and Cooling System Exemption

Description: 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. This is a ten (10) year exemption.

Eligibility: Must meet the requirements contained in Iowa Code section 427.1(38) and the administrative rules in 701 IAC section 80.29.

Filing Requirements: Person claiming the exemption shall file an application with the assessor by February 1 of the first assessment year the exemption is requested.

Form:  Geothermal Heating & Cooling System Property Tax Exemption 54-011

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Iowa Grain Tax Return – Iowa Code Section 428.35

Description: An annual excise tax levied on the handling of grain.  All grain so handled shall be exempt from all taxation as property under Iowa law.

Eligibility: Types of grain included and other details can be obtained from the county assessor.

Filing Requirements: A statement of filing form shall be completed on the first day of January and not later than 60 days thereafter for the grain handled the preceding year.  This form should be filed with the assessor’s office.

Form: Grain Tax Return and Instructions 56-068

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Historic Property Rehabilitation Tax Exemption – Iowa Code Section 427.16

Description: 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”.

Eligibility: The property must meet the requirements found in Iowa Code section 427.16(6).

Filing Requirements: Must be filed, mailed, or postmarked to your city or county assessor by February 1 of the assessment year.

Form: Historic Property Rehabilitation Exemption 54-019

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Iowa Homestead Credit and Disabled Veteran's Homestead Tax Credit

Homestead Tax Credit - Iowa Code Section 425

Description: Originally adopted to encourage home ownership through property tax relief. The current credit is equal to the actual tax levy on the first $4,850 of actual value.

Eligibility: Must own and occupy the property as a homestead on July 1 of each year, declare residency in Iowa for income tax purposes and occupy the property for at least six months each year. Persons in the military or nursing homes who do not occupy the home are also eligible.

Filing Requirements: Claim must be filed on or before July 1. Claim is allowed for successive years without further filing as long as eligible.

Form: Homestead Tax Credit Application (54-028)

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Disabled Veteran's Homestead Tax Credit - Iowa Code Section 425.15

Description: Originally adopted to encourage home ownership for disabled veterans. The current credit is equal to 100% of the actual tax levy.

Eligibility: Veterans with 100% service-related disability status qualify for this credit.  Veterans also qualify who have a permanent and total disability rating based on individual unemployability paid at the 100% disability rate.  The veteran must own and occupy the property as a homestead on July 1 of each year, declare residency in Iowa for income tax purposes and occupy the property for at least six months each year. Persons in the military or nursing homes who do not occupy the home are also eligible.  A surviving spouse of a disabled veteran receiving DIC payments also qualifies. The surviving spouse as a beneficiary of the estate of a veteran who received the credit may continue to receive the credit as long as the spouse resides in the qualified homestead and does not remarry.

Filing Requirements: Claim must be filed on or before July 1. A current Benefits Paid letter and a DD214 must be included with your application. 

Form: Disabled Veteran's Homestead Credit

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Notice of Transfer or Change in Use of Property Claimed for Homestead Tax Credit – Iowa Code Section 425.2

Description: Property owner must certify to the assessor that they no longer own the property or have ceased to use the property as a homestead claimed for a homestead tax credit.

Filing Requirements: Must be filed with the city or county assessor’s office by July 1 following the date of transfer or change in use of the property.

Form: Homestead Tax Credit - Notice of Transfer or Change in Use of Property 59-458

Further information can be found at: Disabled Veteran Homestead Property Tax Credit

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Notice of Transfer or Change in Use of Property Claimed for Military Service Tax Exemption – Iowa Code Section 426A.13

Description: Property owner must certify to the assessor that they no longer own the property claimed for a military service tax exemption.

Filing Requirements: Must be filed with the city or county assessor’s office by July 1 following the date of transfer or change in use of the property.  

Form: Homestead Tax Credit - Notice of Transfer or Change in Use of Property 59-458

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Iowa Impoundment Structures Exemption

Description: Provides an exemption for impoundment structures and land underlying an impoundment located outside any incorporated city.

Eligibility: Not developed or used for nonagricultural income-producing purposes. Must be approved by Soil and Water Conservation District commissioners and the Iowa Department of Natural Resources.

Filing Requirements: Application must be filed with the assessor each year no later than February 1.

Form:  Impoundment Structure Exemption 54-067

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Iowa Industrial Property, Research-Service Facilities, Warehouses, Distribution Centers and Cattle Facilities Exemption

Description: Value-added exemption to encourage industrial and commercial development. Subject to approval by city councils and county boards of supervisors.

Eligibility: Partial exemption for five years. The percent varies each year. Cattle facilities must be owner-operated.

Filing Requirements: Application must be filed with assessor by February 1 of the year the value is added.

Form: Industrial Exemption 57-122

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Iowa Local Option Remedial Action – Iowa Code Section 427B.20

Description: Provides a credit for a portion of the property taxes, not to exceed the actual costs paid by the owner or operator of an underground storage tank in connection with a remedial action for which the Iowa comprehensive petroleum underground storage tank fund shares in the cost of corrective action.

Eligibility: By ordinance of a county board of supervisors or a city council as described in 427B.20.3

Filing Requirements: Must be filed with your county board of supervisors or city council by September 30 of each year.

Form: Local Option Remedial Action Credit 54-017

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Iowa Low-Rent Housing Exemption

Description: Provides an exemption for low-rent housing until the original housing development mortgage is paid in full or expires.

Eligibility: Property owned and operated or controlled by a nonprofit organization providing low-rent housing for persons at least 62 years old or persons with physical or mental disabilities.

Filing Requirements: Must file an application with the assessor no later than February 1. The claim is allowed on the property for successive years without further filing as long as the property is used for purposes specified in the original claim.

Form: See your county assessor. 

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Manufactured Home Community or Mobile Home Park Storm Shelter Exemption – Iowa Code Section 427.1 (30)

Description: Provides for a full property tax exemption if a storm shelter is used exclusively as a storm shelter or a partial exemption if the storm shelter is used for any other purpose.

Eligibility: A structure constructed as a storm shelter at a manufactured home community or mobile home park as defined in Iowa Code section 435.1.

Filing Requirements: Must be filed with the assessor’s office no later than February 1 of the first year for which the exemption is requested.  

Form: Mobile Home Park Storm Shelter Exemption 54-999

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Iowa Methane Gas Conversion Property Exemption

Description: Promotes environmental purposes.

Eligibility: Property must be used in connection or conjunction with a publicly-owned sanitary landfill, or is property originally placed in service on or after January 1, 2008, or before December 31, 2012.

Filing Requirements: Application must be filed annually with the assessor by February 1.

Form: Methane Gas Conversion Exemption 54-065

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Iowa Military Exemption

Description: Reduces the taxable value of property for military veterans.

Eligibility: The amount of exemption varies. Must own the property on July 1 of each claim year.

Filing Requirements: A qualified veteran must file a claim with the local assessor by July 1. Subsequent claims need not be filed on the same property.

Form: Military Service Tax Exemption Application 54-146

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Iowa Mobile Home Reduced Tax Rate

Description: Enacted as a supplement to the Disabled and Senior Citizens Property Tax Credit. The objective is to provide mobile, manufactured and modular home owners with equivalent aid.

Eligibility: Must be an Iowa resident, 23 or older and meet annual household low income requirements.

Filing Requirements: On or before June 1 of each year, each mobile, manufactured and modular home owner eligible for a reduced tax rate must file a claim with the county treasurer. The county treasurer or the director may grant an extension of time to file.

Form:  Mobile Home Owner Application for Reduced Tax Rate 54-014

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Iowa Native Prairie/Wetlands Exemption

Description: Exemption for land preserved in its natural condition.

Eligibility: Cannot be used for economic gain. Must be certified by the Iowa Department of Natural Resources.

Filing Requirements: Application must be filed annually with assessor by February 1.

Form: Native Prairie or Wetlands Exemption 54-006

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Iowa Natural Conservation and Wildlife Areas Exemption

Description: Provides an exemption for recreational lakes, forest covers, rivers and streams, including banks, and open prairies as designated by the county board of supervisors.

Eligibility: Property cannot be used for economic gain. Property must be at least two acres and provide erosion control or wildlife habitat.

Filing Requirements: Application must be filed with the commissioners of the Soil and Water Conservation District by February 1 of the assessment year.

Form: Recreational Lake, Open Prairies, etc., Exemption  54-010

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Iowa Notice of Assessment of Omitted Property – Iowa Code Section 443.6 through 443.14

Description: Instructions and requirements for the correction of errors in assessment or the omissions of assessment by auditors, treasurers, and assessors. 

Filing Requirements: See Iowa Code for details about the eligibility and filing requirements.

Form: Notice of Assessment of Omitted Property by Auditor, Assessor, or Treasurer 56-070

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Iowa Pollution Control and Recycling Exemption

Description: Provides an exemption for certain pollution control and recycling property.

Eligibility: Exemption is limited to market value of property used primarily for pollution control or recycling. Must be certified as eligible by the Iowa Department of Natural Resources.

Filing Requirements: Application must be filed with the assessor no later than February 1.

Form: Pollution Control and Recycling Exemption and Certification of Pollution Control and Recycling Property 54-064

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Iowa Property Tax Credit for Senior and Disabled Citizens

Description: Incorporated into the Homestead Tax Law to provide property tax or rent relief to elderly homeowners and homeowners with disabilities.

Eligibility: Must be 65 or older or totally disabled, and meet annual household low income requirements.

Filing Requirements: A property owner must file a claim with the county treasurer by June 1 preceding the fiscal year in which the property taxes are due. The director or county treasurer may grant extensions of time to file.

Form: Property Tax Credit Form 54-001 

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Iowa Religious, Educational and Charitable Property Exemption

Description: Exemption for property used for religious, education or charitable purposes.

Eligibility: Cannot be used for profit. Limited to 320 acres.

Filing Requirements: Application must be filed with assessor by February 1. No further application is needed if use remains unchanged.

Form: Nonprofit and Charitable Organizations 54-269

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Section 42 – Reporting Form

Description: Please contact your local assessor if you have questions regarding this Form.

Filing Requirements: This report is to be filed with the local assessor by March 1 of each year.  A $500 penalty is imposed for failure to notify the assessor when a property is withdrawn from the Section 42 Program. This notification must also be provided by March 1 of the assessment year. The capitalization rate for January 1, 2017 assessments of Section 42 Housing property in Iowa is 9.40%.

Form: Section 42 Reporting Form 57-014 (Excel)

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Iowa Special Assessment Credit

Description: Established in conjunction with the Disabled and Senior Citizens Property Tax Credit. The credit gives 100 percent assistance to qualified homeowners who are required to pay special assessments.

Eligibility: Must be 65 or older or totally disabled, and meet annual household low income requirements.

Filing Requirements: The claimant must file a claim with the county treasurer by September 30 of each year.

Form:  Special Assessment Credit Claim  54-036

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Iowa Speculative Shell Buildings Exemption

Description: Value added exemption to encourage local business development. Subject to approval by city council or county board of supervisors.

Eligibility: Available to community development organizations, not-for-profit cooperative associations and for-profit entities. Terminates when building is leased or sold.

Filing Requirements: Application must be filed with the assessor by February 1 for each project.

Form: Speculative Shell Buildings Property Tax Exemption 54-008

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Iowa Urban Revitalization Exemption

Description: Value-added exemption to encourage development in urban areas. Subject to approval of city council or county board of supervisors.

Eligibility: Must have increased the value of the property to which added by at least 15% or 10% for residential property or the percent established by local officials. The percent and the length of time over which the exemption applies varies with schedule adopted by local officials.

Filing Requirements: Application must be filed with the assessor by February 1 of the year the value is added. An extended filing deadline is provided.

Form:  See your county assessor.

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Iowa Value-Added Agricultural Products Exemption

Description: Promotes agricultural production.

Eligibility: Applies to fixtures used for cooking, refrigeration or freezing of value-added agricultural products.

Filing Requirements: No claim for exemption required.

Form:  No form is needed.

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Iowa Web Search Portal Exemption

Description: Exemption for certain property that is purchased by a Web search portal business. This includes cooling systems, cooling towers, and other temperature control infrastructure; all power infrastructure for transformation, distribution or management of electricity used for the maintenance and operation of the Web search portal, including but not limited to exterior dedicated business-owned substations; back-up power generation systems, battery systems, and related infrastructure; and racking systems, cabling, and trays, which are necessary for the maintenance and operation of the Web search portal.

Eligibility: The Web search portal business must meet the requirements contained in Iowa Code section 423.3, subsection 92.

Filing Requirements: The owner must file an application with the assessor by February 1 of the first year the exemption is claimed.

Form: Web Search Portal Exemption  54-007

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Iowa Wildlife Habitat Exemption

Description: Exemption for land used to provide wildlife refuge.

Eligibility: Must be classified as agricultural real estate; cannot exceed two acres, and must be certified by the Iowa Department of Natural Resources.

Filing Requirements: Owner must receive certification from the Iowa Department of Natural Resources, which must notify the assessor of eligibility.

Form: Contact the Iowa Department of Natural Resources.

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Iowa Wind Energy Property Exemption

Description: Promotes energy conservation. Subject to an ordinance of city councils or county boards of supervisors.

Eligibility: Applies to the net acquisition cost of the wind energy conversion property. Exemption: 100%, first year, to 70%, last year, over 20 years.

Filing Requirements: Application must be filed with assessor by February 1 of the year the value is added.

Form: No form is needed.

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