By: Matt Scher, [email protected]
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.