The Iowa Application for Family Farm Tax Credit is a program that provides tax credits to Iowa family farms. It is designed to help reduce the financial burden of family farms by providing tax credits to help pay for property taxes and other costs associated with operating a farm. The program is available to family farms with a minimum net income of $8,500 per year. There are two types of Iowa Application for Family Farm Tax Credit: 1) Basic Tax Credit and 2) Enhanced Tax Credit. The Basic Tax Credit provides an income tax credit of up to $10,000 per year for family farms. The Enhanced Tax Credit offers an additional tax credit of up to $5,000 per year for family farms. Both credits may be used to pay for property taxes and other costs associated with operating a farm. To qualify for the Iowa Application for Family Farm Tax Credit, applicants must meet certain eligibility criteria, including: being an Iowa resident, owning or renting land used for farming, and having a minimum net income of $8,500 per year. In addition, applicants must complete an application form and provide supporting documents to demonstrate their eligibility.