Ames Today

Ames residents ages 65 and older are now eligible for a homestead tax exemption that will reduce the taxable value of their Ames home and lower their property tax bill. Iowa Gov. Kim Reynolds signed legislation this week establishing this new benefit, which is being implemented by Iowa Department of Revenue and local assessors offices across Iowa. This benefit is in addition to the regular homestead credit of $4,850.

For the assessment year beginning on Jan. 1, the exemption is for $3,250 of taxable value. For assessment years beginning on or after Jan. 1, 2024, the exemption is for $6,500 of taxable value. An exemption is a reduction in the taxable value of the property rather than a direct reduction in the amount of property tax you pay.

“This is a legitimate, State of Iowa property tax reduction, and Ames residents who fit the age criteria and other requirements should take advantage of this benefit,” said Shari Plagge, Ames City Assessor. “We are accepting forms in our office, but we also encourage Ames residents to go online for other ways to apply.”

The forms require a signature and can be printed and mailed to the Ames Assessors Office. The form is available at: https://tax.iowa.gov/idr-announces-homestead-tax-exemption-claimants-65-years-age-or-older. A digital form can be signed, scanned, and emailed to CityAssessorInfo@CityOfAmes.org.

The deadline to apply for this benefit is July 1.

The Ames City Assessor is responsible for assigning values to all taxable property within Ames’ city limits. An ongoing process of gathering and reviewing information, reviewing and listing new construction, and investigating sales of real estate is used to provide accurate and current values.

Original source can be found here.