Business Property Tax Credit
The Property Tax Reform Bill (SF 295) was passed by the Iowa Legislature spring of 2013. The credit will be available for the 2013 assessment year. Applications for the credit against the 2013 property tax assessments must be received in the Assessor's Office no later than January 15. 2014, postmarked dates will not be acceptable for this credit. Applications received after January 15, 2014 will be applied to next year's tax credit.
Commercial, Industrial or Railway Property
If you are classified and taxed as a Commercial, Industrial or Railway property you are eligible to sign an application for the credit. The exclusions to the rule are apartments, nursing homes and manufactured home parks. The apartments, nursing homes, and manufactured home parks, excluding section 42 housing, will receive an increased rollback to reduce their taxable values in years to come starting in 2015. Credits will be applied per unit. A unit will include parcels that have the same ownership, are contiguous parcels, and share a common use. If you have any questions about what constitutes a unit for your parcels please contact the Assessor's Office.
When all or a portion of a parcel or property unit is sold, transferred, or ownership otherwise changes, the new owner who wishes to receive the credit shall re-file an application. Deadline for the 2013 assessment year is January 15, 2014 and all subsequent years are March 15, postmark dates will not be accepted.
Additional information regarding the 2013 Property Tax Reform can be found at the Iowa Department of Revenues website.