Credits & Exemptions

Any person who owns and occupies his or her home. The owner must occupy the dwelling as a home at least six months out of the year, including July 1st, to qualify for the credit.

In addition to the homestead tax credit, eligible claimants who own the home they live in and are 65 years of age or older on or before January 1st of the assessment year are eligible for a homestead tax exemption.

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Iowa Code: Chapter 425

Any honorably discharged veteran who served at least 18 months of active duty, less than 18 months but was discharged due to a service-related injury or served during an eligible service period (see form for more details), member or former member of the Reserve Forces or Iowa National Guard who served at least 20 years or was activated for federal duty (not including training) for a minimum of 90 days, or any of the following relatives of a qualified veteran:

• Spouse
• Unmarried Widow/Widower
• Minor Child
• Widowed Parent

Please note, in order to qualify for the exemption, you must have your DD-214 recorded in Cerro Gordo County.

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Iowa Code: Chapter 426

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.) This credit needs to be filed by November 1st at the Assessor's office. It only needs to be filed once unless the ownership or the person actively engaged in farming changes.

Download: Application Form
Iowa Code: Chapter 425A

Qualifying individuals are veterans with 100% service-related disability status or a permanent total disability rating based on individual unemployability paid at the 100% disability rate, or a surviving spouse or child receiving dependency and indemnity compensation (DIC).  The applicant must own and occupy the property on July 1st of each year, declare residency in Iowa for income tax purposes, and occupy the property at least six months each year.

Download: Application Form

A forest occupying at least two acres with 200 trees per acre, or a fruit tree reserve between one and 10 acres with at least 40 apple or 70 other fruit trees per acre.  Neither type of reserve can be used for economic gain other than raising trees, and livestock is not permitted on the reservation.

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Value added from installation of a geothermal system on July 1, 2012, or later.

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Must be filed each year between January 1 and 60 days thereafter. 

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Iowa Code: 428.35

Property in Iowa listed on the national register of historic places, a designated historical site, or located in an area of historical significance. 

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Iowa Code: 427.16

A structure constructed as a storm shelter at a manufactured home community or mobile home park.

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The first annual application shall be accompanied by a certificate from the Department of Natural Resources stating that the land is native prairie or protected wetland.

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Iowa Code: 427.1(23)

Property used for religious, educational, or charitable purposes.  Property cannot be used for profit and is limited to 320 acres.

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Iowa Code: 427.1(14)

The application for pollution control or recycling property shall be accompanied by a certificate from the environmental protection division of the Iowa DNR.

Download: Application Form
Iowa Code: 427.1(19)

 A $500 penalty is imposed for failure to notify the assessor when a property is withdrawn from the Section 42 Program. This notification must also be provided by March 1 of the assessment year.

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Construction of shell buildings by community development organizations, not-for-profit cooperative associations, or for-profit entities for speculative purposes.

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