Iowans who are 65 or older and own the home they live in have until Saturday to apply for a new property tax exemption.
The tax plan Governor Reynolds signed into law last month includes a new property tax exemption for Iowa seniors. It will reduce the taxable value of a home by 32-hundred-50 dollars for property taxes due this September and next spring.
For the next assessment year, the exemption doubles to 65-hundred dollars. Iowans who were at least 65 years old by January 1st of THIS year have until July 1st to file a form with their local county assessor to claim this exemption. Once the exemption is granted, there’s no need to reapply in future years.
Iowans who are receiving or are eligible for the military service property tax exemption will see it increase to four-thousand dollars. Veterans who were on active duty during a war or served 18 months during peacetime may claim the exemption on the home they live in.
Once again, to apply or get more information, contact your local county assessor’s office.
story courtesy of Radio Iowa
