The Iowa Application for Property Tax Exemption for Recreational Lakes, Forest Covers, Rivers and Streams, River and Stream Banks, and Open Prairies is a program that provides a tax exemption for qualifying recreational and open space properties. Eligible properties include certain recreational and open space lands, such as lakes, forest covers, rivers and streams, river and stream banks, and open prairies. The goal of the program is to reduce the financial burden of property taxes on the owners of these types of properties by providing them with a tax exemption. There are three types of Iowa Application for Property Tax Exemption Recreational Lakes, Forest Covers, Rivers and Streams, River and Stream Banks, and Open Prairies: 1) Tax Exemption for Open Space: This program provides a five-year property tax exemption for certain recreational and open space lands, such as lakes, forest covers, rivers and streams, river and stream banks, and open prairies. 2) Tax Exemption for Conservation: This program provides a five-year property tax exemption for certain conservation properties, such as wildlife habitat, wetlands, and floodplains. 3) Tax Exemption for Recreational: This program provides a five-year property tax exemption for certain recreational properties, such as campgrounds, golf courses, and public parks.
Iowa Application for Property Tax Exemption Recreational Lakes, Forest Covers, Rivers and Streams, River and Stream Banks, and Open Prairies
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How to fill out Iowa Application For Property Tax Exemption Recreational Lakes, Forest Covers, Rivers And Streams, River And Stream Banks, And Open Prairies?
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FAQ
Eligibility: Must own and occupy the property as a homestead on July 1 of each year, declare residency in Iowa for income tax purposes and occupy the property for at least six months each year. Persons in the military or nursing homes who do not occupy the home are also eligible.
Forest Cover Exemption form. Forest Reserve Sign up deadline: February 1. A Forest Reverse must contain at least 200 growing trees per acre with a minimum size of 2 acres. If buildings are present, 1 acre will be removed from the exemption.
12 Iowa Code § 441.39. The statute states that a qualifying organization or society may exempt from property taxation land used by the organization or society solely for its appropriate purposes and not leased or used for pecuniary profit.
The property of any organization composed wholly of veterans of any war, when such property is devoted entirely to its own use and not held for pecuniary profit. 427.1(8) Property of religious, literary, and charitable societies.
A. A person who is eligible to file a claim for credit for property taxes due and who has a household income of eight thousand five hundred dollars or less and who has an unpaid special assessment levied against the homestead may file a claim for a special assessment credit with the county treasurer.
19. Pollution control and recycling. Pollution-control or recycling property as defined in this subsection shall be exempt from taxation to the extent provided in this subsection, upon compliance with the provisions of this subsection.
Iowans age 65 or older are eligible for a property tax exemption worth $3,250 for the assessment year beginning Jan. 1, 2023. In subsequent years, the exemption doubles to $6,500. Exemptions are a reduction in the taxable value of the property, not a direct reduction of how much property taxes a homeowner pays.