Iowa DOR Proposes Regulations to Amend Homestead Tax credit, Military Service Property Tax Exemption Provisions

The Iowa Department of Revenue Oct. 7 issued an amended notice of intended action on a proposed rule making related to the homestead tax credit and the military service property tax exemption. The proposal includes measures to: 1) explain the “under honorable conditions” language as it pertains to the military service tax exemption; 2) describe the application requirements and eligibility of a person who has received multiple discharges from service for the disabled veteran tax credit and clarify that this doesn’t alter the disabled veteran tax credit eligibility requirements; 3) allow the homestead tax credit and the military service tax ...