New Homestead Tax Exemption for Homeowners 65 and Older

From the Johnson County Assessor’s Office:

On May 4, 2023, Gov. Kim 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.

Please come to our office at 913 S Dubuque St, Iowa City, to apply for the new exemption or download a form from the Department of Revenue’s Website.

Applications are due July 1. If the exemption is granted, the exemption will be allowed for future years without future filing as long as the claimant continues to qualify.

This form is not currently available to submit on our Beacon site, however, we are working on this and will hopefully have it available soon. You can fill out and email to [email protected] or mail to Johnson County Assessor’s Office, 913 S Dubuque Street, Iowa City, IA 52240.

Please call us with questions at 319-356-6078. Our office is open from 8:00 a.m. to 4:00 p.m. Monday through Friday