Take Advantage of The Homestead Credit

The Homestead credit is a property tax credit for residents of the state of Iowa who own and occupy their homestead on July 1 and for at least six months of the calendar year. It is a tax credit funded by the State of Iowa for qualifying homeowners, and is based on the first $4,850 of actual value of the homestead. In most cases, the credit will be reflected on the homeowner's property tax statement as an amount deducted from gross taxes due. To receive this benefit, you must file an application with your county assessor.

Homeowners may apply for Homestead credit using one of two methods: through the IDR or with their local county assessor.

Here at The dsmSOLD Team, as our way of helping you, we prepared a step-by-step process that you can follow. 

Step-by-Step guide on how to navigate and fill out a Homestead Tax Credit application:

For Dallas, Warren, Madison County: Homestead Credit Application

Assessor Website: Beacon

For Marion County: Homestead Tax Credit

Assessor Website: Marion Assessor Page 

For Polk County: Application Guide 

Assessor Website: Polk Assessor Page

The homestead tax credit is not just a way to save money each year on property taxes, but it also promotes homeownership. The end goal of this program is to help make your home more affordable for a reasonable price. If you are interested in receiving this credit, you’ll need to file an application with the assessor’s office in your county. The application is available online and can be printed at no cost. Unless you previously applied for the tax credit and were denied, the turnaround time is generally around 30 days once the application has been received by your county assessor. This will take effect for the following tax year as long as you've submitted it by July 1. You'll also only need to only complete this one time while living in the property, and it'll renew automatically each year. The interest rates on loans and credit cards have begun climbing, making having a homestead credit even more valuable now than ever!

Have questions? Feel free to reach out or give us a call!