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Assessor & Property Values
Story County Assessor’s Office
(Excluding the City of Ames)
HOMESTEAD TAX EXEMPTION 65 PLUS FORM
mail to: Story County Assessor 900 6th St. Nevada IA 50201
IF YOU LIVE IN THE CITY OF AMES, YOUR APPLICATION NEEDS TO BE SENT TO AMES CITY ASSESSOR.
Dear Homestead Property Owner:
This letter is to notify you that on May 4, 2023, Governor Reynolds signed House File 718, establishing a homestead tax exemption for claimants 65 years of age or older. This exemption is in addition to your existing Homestead credit of $4,850. Eligible claimants who own the home they live in and are 65 years of age or older on or before January 1, 2023 are now eligible for a homestead tax exemption.
The Story County Assessor (excluding the City of Ames) is mailing out Homestead applications to all existing Homestead applicants notifying them of this new law change concerning eligibility if they are 65 years of age or older as of January 1, 2023.
Those who qualify Must File An Application to your local assessor by July 1, 2023 in order to receive the exemption for the 2023 assessment year. The Iowa Department of Revenue has amended the Homestead Tax Credit and Exemption application form to allow claimants to apply for the new exemption. If the exemption is granted, the exemption will be allowed for future years without future filing as long as the claimant continues to live at the current residence. Iowans who turn 65 in future years will need to file the application form before July 1st of the year following their 65th birthday.
For the assessment year beginning on January 1, 2023, the exemption is for $3,250 of taxable value. For assessment years beginning on or after January 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. The exemption for the 2023 assessment year will be for taxes payable the fall of 2024 and the spring of 2025. The exemption for the 2024 assessment year will be for taxes payable the fall of 2025 and the spring of 2026.
Increase in Military Exemption
The military service tax exemption has also been increased to $4,000 in taxable value for assessment years on or after January 1, 2023, for an honorably separated, retired, furloughed to a reserve, placed on inactive status, or discharged veteran. There is no additional application for this exemption to receive the new $4,000 exemption for the military. It will be applied automatically to all current qualifying military applications on file.
In summary, if you qualify for the additional homestead exemption, please fill out the enclosed application and either mail or hand deliver to us immediately, so you don’t miss the deadline of July 1, 2023. The time period to file this exemption is limited due to the lateness of the law change. If you don’t know your parcel #, book/page or the number of acres we will fill in that information once we receive your application. Don’t hesitate to call our office if you have any questions.
Story County Assessor
As Assessor of Story County, I would like to take this opportunity to welcome you to our assessor website. This site has been prepared to help you better understand the functions and services provided by the assessor’s office. Our goal is to provide you, the public and taxpayers of Story County, with information that will assist you in understanding the assessment process.
Following is a brief list of the types of information which is available on our assessor website:
- Aerial Photography
- Assessment Laws & Procedures
- Credits & Exemptions
- GIS & Map Data
- Plot Plans
- Property Record Card Data
- Sales Data
- Valuations by Parcel
It is my responsibility to ensure that all real property is treated fairly and equitably in accordance with Iowa law. My staff and I are committed to serving you in an efficient and professional manner. Please contact a staff member or myself with questions regarding your assessment or other assessment related matters.
Property Tax 101
Agricultural Property Taxes
It is the mission of the Story County Assessor’s Office to provide fair, accurate and equitable assessments to all property owners in Story County, Iowa.
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