Relating to property tax exemptions by changing the homestead tax exemption to a credit for owners attaining sixty-five years of age and increasing the military service tax exemption, and including effective date and retroactive applicability provisions

Sponsored by Sen. Charlie McClintock (R)

Official bill page Lobbyist declarations One-pager to print

Where it is now

Done: IntroducedJanuary 14, 2025
Done: SubcommitteeJanuary 22, 2025
Stopped: Senate committeeDied when the General Assembly ended
Next: Passes the Senate
Next: House committeeFunnel: by March 20, 2026
Next: Passes the House
Next: To the Governor
Next: Signed into law

Died when the session ended The General Assembly adjourned on October 2, 2026. Bills that didn’t pass both chambers died. What’s a funnel?

What’s in it

This bill relates to property tax exemptions by changing the homestead tax exemption for certain elderly persons to a credit for owners attaining years of age and increasing the military service tax exemption. DIVISION I —— HOMESTEAD TAX CREDIT FOR ELDERLY OWNERS.1A, the homestead tax exemption for owners attaining years of age shall not exceed $6,500 of taxable value.23. eligible homestead. The bill makes conforming changes to the additional credit in Code chapter 425, subchapter II. The division takes effect upon enactment and applies retroactively to assessment years beginning on or after January 1, 2025.

Read the full explanation

DIVISION II —— MILITARY SERVICE TAX EXEMPTION. Under current law, all honorably discharged veterans are entitled to a property tax exemption of $4,000 in taxable value. The bill increases the property tax exemption amount to an amount that is equal to the lesser of the actual value of the property and an exemption amount that is equivalent to a $4,000 credit on the actual taxes payable on a property owned by an eligible veteran.7 does not apply to the division, and as a result, a political subdivision is required to extend the credit to eligible veterans. The division takes effect upon enactment and applies retroactively to assessment years beginning on or after January 1, 2025.

From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text

Senate subcommittee

Named January 22, 2025. It hasn’t reported yet.

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Iowa Code it changes

Amends§425.17 §425.1A §425.23 §426A.11

Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works

Lobbying

2 for · 0 against · 18 undecided · Who →