Wednesday, January 8, 2014

January 15 Deadline Approaching for New Iowa Business Property Tax Credit

We want to make you aware of an important Iowa law that affects property taxes related to commercial, industrial and railroad property.  Signed by Governor Terry Branstad in June 2013, this legislation has three major components: reduction in business property taxes, limitations on increases of residential property taxes, and credit expansions in individual income taxes. 

If you own commercial, industrial or railroad property and want to be eligible for a new credit, you must file an Application for Business Property Tax Credit with the county assessor’s office in which the real estate is located no later than January 15, 2014.

Click this link to view examples and to learn more about the application process.