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89th General Assembly · Iowa Funnel one-pager · Tuesday, November 10, 2026

SF 120: Establishing a homestead adjustment property tax credit for certain property of persons who have attained the age of sixty-five or who are totally disabled, applying income limitations, providing a penalty, making appropriations, and including retroactive and other applicability provisions

Died when the session ended · The 2022 session adjourned on May 24, 2022, the General Assembly’s last regular session. Bills that didn’t pass both chambers died.

What it does

This bill establishes a homestead adjustment credit for an owner of a homestead with an actual value of less than $250,000 if the owner is a person who is either or older or totally disabled, and who has household income of less than $30,000 per year. If the qualifications established in the bill are met, the amount of the homestead adjustment credit shall be an amount equal to the amount of property taxes levied against the homestead for the base assessment year, as defined in the bill, following application of all applicable property tax credits other than the homestead adjustment credit minus the amount of property taxes levied against the homestead for the assessment year preceding the base assessment year following application of all property tax credits.

Sponsors

Not listed

Cost

See the fiscal note

The property tax changes contained in the Bill will reduce property taxes owed on qualified homestead properties. 3 million for FY 2026. 5 million per year for the foreseeable future. The Bill provides for a standing unlimited appropriation from the State Gene…

Senate subcommittee · named January 26, 2021

  • Sen. Dan Dawson (R) · dan.dawson@legis.iowa.gov
  • Sen. William A. Dotzler Jr. (D) · bill.dotzler@legis.iowa.gov
  • Sen. Tim Goodwin (R)

Lobbying · 0 for, 2 against

Against: Iowa State Association of Counties; Iowa State Association of County Supervisors

In plain words

  1. January 21, 2021Filed in the Senate and sent to the Ways and Means committee
  2. January 26, 2021Senate subcommittee named: Dawson, Dotzler and Goodwin
  3. February 18, 2021Cost estimate (fiscal note) posted

From public records at legis.iowa.gov, compiled by Iowa Funnel (iowafunnel.com), an independent, nonpartisan site. Current as of Tuesday, November 10, 2026. https://iowafunnel.com/bills/89/SF120