By: Matt Scher, matts@977thebolt.com
The Humboldt County Board of Supervisors session on Monday featured an update on the Homestead Tax Exemption for Claimants 65 Years of Age or older in Humboldt County. On May 4 of this year, Iowa Governor Kim Reynolds recently signed House File 718 into law, which established a Homestead Tax Exemption for Claimants who are 65 years of age or older.
Jana Terwilliger of the Humboldt County Assessor’s office says those who are eligible can sign a form and will still be eligible for the homestead that they own, with the paperwork filing to be a separate credit.
For the assessment year beginning on January 1, 2023; the exemption is for $3,250 of taxable value. For assessment years beginning on or after January 1, 2024; the exemption is for $6,500 of taxable value. An exemption is a reduction in the taxable value of the property rather than a direct reduction in the amount of property tax you pay.