Credits & Exemptions

Iowa law provides for several credits & exemptions.  It is the property owner’s responsibility to apply for these as provided by law.  It is also the property owner’s responsibility to report to the Assessor when they are no longer eligible for any credit or exemption they have applied for.  Following is a list of several credits & exemptions available in Iowa.  Credits & Exemptions may be applied for in the Bremer County Assessor’s Office.

 Homestead & Business Property Tax Credit & Military Exemption may also be applied for online @ Bremer County Assessor’s

Homestead Credit Application click here
To qualify for the credit, the property owner must be a resident of Iowa & occupy the property on July 1 and for at least 6 months of every year.  New applications for homestead tax credit are to be filed with the Assessor on or before July 1 of the year the credit is first claimed.  Once a person qualifies, the credit continues until the property is sold or until the owner no longer qualifies.   If a person fails to file it is deemed they have waived credit for the year.  Refer to Code of Iowa, Chapter 425

Disable Veteran Homestead Tax Credit Application click here
To qualify for the credit, the property owner must be a resident of Iowa & a veteran as defined in section 35.1.  A copy of the letter from the U.S. Department of Veteran Affairs indicating the applicant meets eligibility requirements must be presented. The DD214 must be recorded in the Bremer County Recorder's Office.  The DD214 is the Certificate of Release or Discharge from Active Duty.

Once a person qualifies, the credit continues until the property is sold or until the owner no longer qualifies. Surviving spouses are eligible if they receive DIC (Dependency and Indemnity Compensation) payments even upon remarriage. Written notification must be provided to the assessor if circumstances change & individual no longer is eligible for the credit.  Refer to Code of Iowa, Chapter 425.15

Military Tax Exemption application click here
To qualify for the credit, the property owner must be a resident of Iowa, have been involved in full-time active duty during a war or conflict, and have been honorably discharged (DD214 must be recorded in Bremer County Recorder’s office).    The DD214 is the Certificate of Release or Discharge from Active Duty.

New applications must be made with the Assessor on or before July 1 of the year the exemption is first claimed.  Surviving spouses remain eligible for the exemption as long as do not remarry.  The exemption remains in effect until the property owner is no longer eligible.   Refer to Code of Iowa,  Chapter 427

Business Property Tax Credit
This is a tax credit on commercial, industrial & railroad properties.  HF2552 eliminated the BPTC application filing for 2022 valuations.  Beginning 2022 all property units with qualifying classifications qualify for the credit.    A property unit is defined in the law as “contiguous parcels all of which are located within the same county, with the same property tax classification, are owned by the same person, and operated by that person for a common use & purpose."   Properties classed agricultural and residential are excluded.  Refer to Code of Iowa, Chapter 426C  (new rules to be written)

Family Farm Tax Credit
This is a tax credit on agricultural tracts of land 10 acres or more that are farmed by the owner or immediate family members (this includes brothers/sisters, sons/daughters, grandchildren, great-grandchildren, uncles/aunts, nephews/nieces, cousins DO NOT qualify).  New applications for family farm tax credit are to be filed with the Assessor on or before November 1of the year the credit is first claimed.  Once a person qualifies, the credit continues until the property is sold or until the owner no longer qualifies. Refer to Code of Iowa, Chapter 425A

List of Credits & Exemptions (click here)

 Index of forms– Department of Revenue