In 2021, the Iowa legislature passed SF 619. Division 28 of that bill expanded eligibility for the property tax credit under Iowa Code chapter 425, subchapter II based on household income for claimants aged 70 years or older. In other words, claimants aged 70 years or older with higher household income are able to qualify for the property tax credit in 2022 and subsequent years.
Claims may be filed with the County Treasurer between January 1 and June 1. The location of your County Treasurer can be found at iowatreasurers.org.
View the Iowa Property Tax Credit Claim (54-001) form.
Income Qualifications
Claimants 70 and older may qualify for the credit if their household income is less than 250% of the federal poverty level, as defined by the most recently revised poverty income guidelines published by the United States Department of Health and Human Services. You can find the income schedule for the relevant year on the instructions page of the form. The schedule changes each year.
Claimants eligible under the new law receive a credit equal to the calculation under the pre-SF 619 property tax credit calculation, or the difference between the actual property taxes due during the applicable fiscal year less the actual property taxes due in the first year the claimant filed a claim, whichever is greater.
IMPORTANT: A claimant aged 70 or older must continue to file for the credit each year in order to receive the maximum benefit of the new credit calculation.