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1. What is a Homestead Credit and how do I apply?

• 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.
• You can apply for this in person at the Assessor’s Office or online.
• Pre-populated Homestead Tax Credit Application Forms are available to be printed from within your parcel on our website.
• Under "Real Estate Search" enter your property address.
• If you would like to apply online, follow the link after “Submit Application: HOMESTEAD TAX CREDIT”
• If you would like to mail in your application, follow the link included in “please apply for the Homestead Tax Credit”
• This will bring up the Homestead form that needs to be printed, filled out, signed and returned to our office.
• For questions, contact us at 319-892-5220 or via email
• This is a one-time sign up
• If you move, you need to sign up again on the new house.
• Iowa Code Chapter 425

2. What is a Military Exemption and how do I apply?

• Veterans who served in active duty and who were honorably discharged are eligible to receive a military exemption on their property taxes.
• If you served in the military and were on active duty for 18 months you are eligible for a military exemption.
• Pursuant to Iowa law, the reduction in taxable value is determined by the dates and amount of time the veteran served in active duty.
• The reduction of taxable value for World War I veterans is $2,778 and $1,852 for all other periods of service.
• Former and current members of the Iowa National Guard and reserve forces need not have performed active duty if they served at least 20 years.
• You can apply for this in person in the Assessor’s Office, or click here to request the Military Exemption Application.
• Your DD214 must be recorded in Linn County for us to apply this exemption
• Iowa Code Chapter 426A

3. I have applied for the Homestead Credit and/or Military Exemption, but I don't see them on my property tax bill

• Depending on when the homestead credit or military exemption application was received in our office, it may be more than 24 months for the credit or exemption to appear on the property tax statement.
• July 1 is the deadline for filing for the homestead credit or military exemption.
• If the July 1 deadline is missed, the exemption or credit will not be applicable until the next assessment year.
• For example, if a property owner applied for the homestead credit on July 2, 2020, they have missed the July 1 deadline for assessment year 2020. The property owner is now applying for the homestead credit for assessment year 2021. The property owner will not receive a property tax statement reflecting their homestead credit until September 2022/March 2023.

4. What other Credits and Exemption may I be eligible for?

There are several more credits or exemptions that may be applied for at your local assessor’s office or through another office. Each type of exemption or credit has specific criteria and rules. Some are one time sign up and others must be applied for annually. Here are a couple of links that will guide you:

Iowa Department of Revenue Credit and Exemption Page

Business Two-tier Assessment Limitation (Formerly BPTC)

5. My assessment has not changed, why have my property taxes increased?

• There are three major factors that determine your tax bill:
• Assessed value (determined by our office)
• Rollback (determined by the Iowa Department of Revenue)
• Levy rate (determined by local taxing bodies)
• Example of a very simplified version:

$200,000	(assessed value based on market value)
x 0.60	(rollback based on valuation changes throughout Iowa)
$120,000	(taxable value)
x 0.04000	(levy based on budgets of school, county, city, assessor, etc)
$4,800	(tax bill)

The rollback is the same for all properties of that class throughout the state

The taxable value is the value that your taxes are based on

The levy rate is a combination of the tax asking’s of the school, county, city or township, community college, assessor, and other entities whose area your property is located.

6. What does my property tax pay for?

What does my property tax pay for?

7. How does the Assessor determine the value of my property?

Depending on the classification of the property, the assessment is to represent the market value of the property unless otherwise provided by Iowa Code. Residential, agricultural dwellings, multi-residential, commercial, and industrial classed properties are to be assessed at market value. Changes in market value as indicated by research, sales ratio studies and analysis of local conditions as well as economic trends both in and outside the construction industry are used in determining your assessment.  Market value of a property is an estimate of the price that it would sell for on the open market on January 1st of the year of assessment. This is sometimes referred to as the ’arm’s length transaction’ or ’willing buyer/willing seller’ concept. Agricultural land and buildings are valued on productivity and net earning capacity.

8. What is classification?

• Real estate parcels are assigned a property classification by the assessor
• This classification is to be consistent with the primary use of the property
• There are currently five classifications of property in Iowa:
  • Residential
  • Commercial
  • Agricultural
  • Industrial
• Classification may not necessarily be the same as the zoning of the property
• Iowa Code Chapter 441.21

9. How does the Assessor determine Market Value?

• We use Mass Appraisal to determine your value
• We must be at or near market value and have similar properties of a class be equitable
• Our office begins with gathering data on the characteristics of your property
• This is done through an appraiser inspecting your property
• We use the state mandated Iowa Real Property Appraisal Manual to determine the replacement cost new of your building (Cost Approach to Value)
• The replacement cost new is what a property would be worth if it was newly constructed
• The market (sales of other properties) is studied to determine if the property or area needs an adjustment. 
• This is done by using statistical measures specific to that area
• Our approach to value is the Cost Approach adjusted to the Market
• We do not typically use the Income Approach to value, due to difficulty in getting income data from property owners
• Iowa Code Chapter 441.21

10. How often is my property reassessed?

• State law requires all properties to be reassessed every odd numbered year.
• If necessary, assessors may reassess property every year.
• Iowa Code Chapter 441.47

11. What do I do if I disagree with the assessed value of my property?

• The first step would be to contact our office to set up a review of your property
• Our assessment date is January 1^st of each year
• From April 2^nd to the 25^th we can come to an Informal Agreement with property owners
• Iowa Code Chapter 441.30
• April 2^nd through April 30^th is also the time frame for filing a Formal Petition to the Board of Review
• The April 30^th deadline may be extended to June 5^th if a disaster has been declared
• If we receive a petition early enough, we will try to turn it into an Informal Agreement
• Iowa Code Chapter 441.31

12. How do I appeal my assessment?

Visit our Board of Review page for information on appealing your assessment.

13. How is the Assessor appointed?

• The local assessor is appointed by a conference board to a six year term after Director of the Department of Revenue approval
• The conference board for the county assessor is comprised of the county supervisors, the mayors of incorporated towns in the county, and a school board member from each school district in the county.
• All assessors must have successfully passed required courses and the assessor exam given by the Department of Revenue.
• Each assessor must successfully complete 150 hours of formal continuing education in order to be eligible for reappointment.
• Iowa Code Chapter 441.6

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