How to apply for Iowa Homestead Tax Exemption for homeowners 65 and older

Who it's for

Iowa homeowners who are 65 or older on or before January 1 of the assessment year get an extra homestead tax exemption of $6,500 of taxable value. This is on top of the regular Iowa homestead exemption, which a 2026 law (SF 2472) changed from a credit to an exemption of 10% of the home's taxable value (at least $5,500 and at most $20,000), starting with assessment year 2026 (taxes paid in September 2027 and March 2028). An exemption lowers the value your property taxes are figured on. You must own and live in the home as your homestead and live in it at least six months a year. File the Homestead Tax Exemption form (54-028) with your city or county assessor by July 1. Once approved, it carries over each year without filing again. People who already had the homestead credit or exemption before July 1, 2026 get the new 10% exemption automatically.

What you'll need

• Homestead Tax Exemption form (54-028), filed with your city or county assessor

Where to apply

Step by step

1. Check that you qualify. You must be age 65 or older on or before January 1 of the assessment year. You must own the home, use it as your homestead, and live in it at least six months each year.
2. Make sure you meet the July 1 rules. You must own and occupy the home on July 1 and declare Iowa residency for income tax. Nursing home residents who do not live in the home can still qualify.
3. Complete the Homestead Tax Exemption form (54-028).
4. Apply online through your city or county assessor.
5. Submit the form by July 1.

What to expect: After you apply, the assessor decides the claim. If approved, the exemption lowers the taxable value used to figure your property taxes. The dollar savings depend on your home’s taxable value and local tax rate. You do not need to file again each year as long as you stay eligible.

Renewals

one-time application; carries over while you stay eligible