The Homestead Tax Credit is a small tax break for homeowners on their primary residence. If you live in the greater Iowa City area in Johnson County you can apply for the Homestead Credit with a quick visit to the Johnson County Assessor’s Site. You’ll need to scroll down to find the link for the Homestead Tax Credit Application. Once the property has been recorded in your name, It can be completed and signed online. At the busy time of the year it may take a few weeks before the change of ownership is recorded on the assessor’s site. You’ll need to wait for that to happen to use this option.
In the past you needed to download the form and send it in by the deadline. That’s no longer necessary now, although the option to send it in is still available if you visit the Johnson County Main Website and start the process from there. The link for that option is below. Once they’ve identified your address you will be provided with a pre-filled application form for download.
Th pre-filled option of course only works if the property is recorded in your name. That usually happens within a couple of weeks of closing, depending on the time of year. If you closed on a home in the last couple of weeks and the link throws out the information of the sellers of your new home, there is another option to download a blank form on the site to fill in yourself.
Timing is critical when it comes to submitting your application for the homestead credit. The deadline is July 1st. Any applications received after that date will not be applied until the following year when property taxes are re-calculated. (The tax year runs from July 1 to June 30 in Johnson County). You only need apply one time and the credit will be applied to your property taxes every year as long as you live in the house.
Another lesser known credit is the Military Exemption. As the name suggests this is a tax credit for servicemen and women and includes past and present members of the Armed Forces. The Military Exemption Application Process is the same as for the Homestead Tax Credit I talked about in the last paragraph. The deadline for application is the same as the Homestead Tax Credit too and it’s also only available for home owners using the home as their primary residence. I don’t have a dollar amount for that as it’s calculated differently than the Homestead Tax Credit. There are also other eligibility requirements.
After you’ve printed off the forms from the Johnson County website you can either mail or drop them off at the Johnson County Assessor’s Office, 913 S Dubuque St, Iowa City (Before July 1st of course!)