How property owners could save money at tax filing time
Iowa residents may want to consider the Homestead Tax Credit as they prepare paperwork and consider which credits they're eligible for.
The credit reduces the amount owed for income or property tax.
A resident must declare a property their homestead for six months out of the year.
They must also be living at the home as of July 1 of each year.
The process to apply for the credit begins in your county assessor's office.
â??They can go down to the assessor's office, they have applications down there that you can fill out. They'll just ask you, I believe, for your address. They'll give you the application, you can fill it out and then we'll get the applications in December and bring them up to our office to either allow or disallow,â?? said Kelly Spurgeon from the Wapello County Auditor's Office.
Residents must file before July 1 in order to receive the credit for this year.
The credit is based upon the first $4,850 dollars of net taxable value.