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Exemptions and Credits
Iowa law provides for a number of credits and exemptions. It is the property owner's responsibility to apply for these as provided by law. It is also the property owner's responsibility to report to the Assessor when they are no longer eligible for any credit or exemption they have applied for. Following is a list of several credits and exemptions available in Iowa.
Homestead Tax Credit
To qualify for the credit, the property owner must be a resident of Iowa and occupy the property on July 1 and for at least six months of every year. New applications for homestead tax credit are to be filed with the Assessor on or before July 1 of the year the credit if first claimed. Once a person qualifies, the credit continues until the property is sold or until the owner no longer qualifies. This credit is calculated by multiplying $4,850 by the appropriate levy rate. (Refer to Code of Iowa, Chapter 425)
Military Tax Exemption
Qualification is determined based on residency, type of discharge and time served. Military veterans including Iowa National Guard and United States Reservists may qualify. Contact the Scott County or Davenport City Assessors’ Office for additional information. Applications must be made with the Assessor on or before July 1 of the year the exemption is first claimed. The exemption remains in effect until the property owner is no longer eligible. (Refer to Code of Iowa Chapter 426)
Family Farm Tax Credit
This is a tax credit on agricultural tracts of land 10 acres or more that are farmed by the owner or immediate family members (this includes brothers/sisters, sons/daughters, grandchildren, great grandchildren, uncles/aunts, nephews/nieces.) There is an annual signup period for this credit until November 1st of each year. Applications are taken in the Assessor's office. (refer to Code of Iowa Chapter 425A)
Other Exemptions and Credits
Following is a list of several other credits/exemptions administered by the Assessor's office. Filing is required on them as provided by Iowa law.
|
Credit/Exemption |
Time Period |
Contact For Eligibility |
Filing Deadline |
| Forest Reserve | Permanent | Assessor | February 1 |
| Fruit Tree Reservation | 8 Years | Assessor | February 1 |
| Forest Cover | Annual | Soil Conservation Service | February 1 |
| Open Prairie | Annual | Soil Conservation Service | February 1 |
| Wetlands | Annual | DNR State Wildlife Biologist/Assessor | February 1 |
| Native Prairie | Annual | DNR State Wildlife Biologist/Assessor | February 1 |
| Wildlife Habitat | Permanent | DNR State Wildlife Biologist/Assessor | February 1 |
| Impoundment Structures | Annual | Assessor | February 1 |
| Pollution Control | Permanent | Assessor | February 1 |
| Cattle Facilities | 5 Years | Assessor | February 1 |
| Historic Property | 4/4 Years | State Historical Society/Assessor | February 1 |
| Urban Revitalization | By Ordinance | City/County Assessor | February 1 |
| Industrial Partial 427B | 5 Years | Assessor | February 1 |
| Disabled Veteran | Annual | Local Administrator Veterans Affairs/Assessor | July 1 |