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Iowa Free Printable Iowa Property Tax Credit Claim, 54001 for 2024 Iowa Iowa Property Tax Credit Claim

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Iowa Property Tax Credit Claim
Iowa Property Tax Credit Claim, 54001

2023 Iowa Property Tax Credit Claim Iowa Code chapter 425 and Iowa Administrative Code chapter 701—104 Complete the following personal information: Your name: __________________________________ Spouse name: ________________________________ Your Social Security Number: ____________________ Spouse Social Security Number: __________________ Your birth date (MM/DD/YYYY): __________________ Spouse birth date (MM/DD/YYYY): ________________ Address: ____________________________________ City: ________________________________________ State: __________________ ZIP: _________________ Phone: ______________________________________ Answer these questions to determine eligibility: 1. Are you currently an Iowa resident? .................................................................................................Yes ☐ No ☐ If “No,” stop. No credit is allowed. 2. Did you file a Property Tax Credit claim in 2022?.............................................................................Yes ☐ No ☐ 3a. Were you age 65 to 69 as of December 31, 2022? ..........................................................................Yes ☐ No ☐ 3b. Were you age 70 or older as of December 31, 2022? ......................................................................Yes ☐ No ☐ If “Yes,” list number of persons living with you in your household (include yourself). See instructions ____________ 3c. Were you age 18 or older and totally disabled as of December 31, 2022? See instructions. .......... Yes ☐ No ☐ 4. Were you a resident of a nursing home or care facility during 2022? See instructions .................... Yes ☐ No ☐ If “Yes,” are you renting out your homestead to someone else? See instructions ........................... Yes ☐ No ☐ 5a. Is there more than one owner of your homestead? ..........................................................................Yes ☐ No ☐ 5b. Do any of the owners live elsewhere? ..............................................................................................Yes ☐ No ☐ If “Yes,” how many live elsewhere? .................................................................................................. ____________ 6. Was part of your home rented or used for business purposes during 2022? ................................... Yes ☐ No ☐ If “Yes,” see instructions and enter the percentage here .................................................................. __________ % 7. Was any part of the land in your homestead tract rented during 2022? ........................................... Yes ☐ No ☐ If “Yes,” how many acres were used exclusively by you? ................................................................ ____________ 2022 Total household income for the entire year Read instructions before completing. Use whole dollars only 8. Wages, salaries, unemployment compensation, tips, etc. .............................................. , .00 , .00 9. In-kind assistance for housing expenses. ....................................................................... , .00 10. Title 19 benefits (excluding medical benefits). ................................................................ , 11. Social Security income (include any Medicare premiums withheld). .............................. , 12. Disability income. ............................................................................................................ , 13. All pensions and annuities. ............................................................................................. , 14. Interest and dividend income. ......................................................................................... 15. Profit from businesses and/or farming and capital gain. If less than zero, enter 0. ................................................................................................ , 16. Money received from others living with you .................................................................... , 17. Other income .................................................................................................................. , , 18. Total household income. Add amounts from lines 8-17 .................................................. Refer to the income schedules on page 3 prior to submitting your claim. I, the undersigned, declare under penalties of perjury or false certificate, that I have examined this claim, and, best of my knowledge and belief, it is true, correct, and complete. .00 .00 .00 .00 .00 .00 .00 .00 to the Your signature: ___________________________________________________ Date: ________________________ Return this form to your county treasurer on or before June 1, 2023, or, if the treasurer has extended the filing deadline, on or before September 30, 2023. The Director of Revenue may extend the filing deadline through December 31, 2024, for good cause. You may be contacted for additional information. 54-001a (10/20/2022) 2023 Iowa Property Tax Credit Claim, page 2 Who is eligible? • Iowa residents. • Total household income less than $25,328 and age 65 or older on December 31, 2022, or • Total household income less than 250% of the federal poverty level (see 250% Federal poverty level guidelines) and age 70 or older on December 31, 2022, or • Totally disabled and age 18 or older by December 31, 2022. A claim for property tax credit may be filed on behalf of a deceased person by the person’s spouse, attorney, guardian, or estate executor or administrator. To be eligible the deceased person must have been an Iowa resident at the time of death. If two or more persons occupying a home qualify for a credit, each person may file a claim based on each person’s income and each person’s share of property tax due. Married couples are considered one household, may file only one claim, and must combine their incomes. Mobile/Manufactured/Modular Homes A claim for property tax credit may be filed if your mobile, manufactured, or modular home was assessed as real estate. If your mobile, manufactured, or modular home was not assessed as real estate, you may claim a credit on the property taxes due on the land where the home is located, if you own the land. If your home is subject to the annual tax based on square footage, you may be eligible for a reduced square footage tax. Your county treasurer has the details on the Mobile/Manufactured/Modular Home Reduced Tax Rate Program. Due date This claim must be filed with your county treasurer on or before June 1, 2023. The treasurer may extend the filing deadline to September 30, 2023. The Director of Revenue may extend the filing deadline through December 31, 2024, for good cause. Additional information The location of your county treasurer can be found at the Iowa Treasurers website: iowatreasurers.org. For information about your Social Security benefits, go to the Social Security Administration website: ssa.gov/myaccount. Claimant instructions Line 3b: “Living with” refers to domicile and does not include a temporary visit. Line 3c: “Totally disabled” means: • • You are unable to engage in any substantial gainful employment; The unemployment is due to a physical or mental impairment that is: o Medically determined; and o Expected to last 12 months or longer or result in death. Current proof of disability must be included with your claim in one of these forms: • A current statement from the Veteran’s Administration that in 2022 you were receiving a disability benefit due to 100% disability, or • A copy of the current Social Security Administration document stating the date the disability began, or • A written statement from your doctor noting the beginning date of disability and whether the disability is permanent or temporary. Claims without proper documentation will be denied. Proof of disability is not required if you were age 65 or older as of December 31, 2022 Line 4: Mark “Yes” if you are a resident of a nursing home or care facility. If not, mark “No.” If you are living in a nursing home or care facility, you are eligible for the property tax credit on your homestead if it is not being rented to someone else. If it is being rented, you are not eligible to file a property tax credit claim, but you may be able to file a rent reimbursement claim based upon the rent payment you made to the nursing home. Line 6: Mark “Yes” if part of your home was rented or used for business purposes during 2022. If not, mark “No.” If you marked “Yes,” you are entitled to a credit of property tax due on only that portion of the home utilized as the dwelling place by you and your spouse. If you answered “Yes”, on line 6, calculate the percentage of property tax that is allowable for a credit by determining the square footage of the home that is utilized as the personal dwelling, in proportion to the square footage of the entire home. Enter this percentage in the space provided below line 6. For example: if the square footage for personal use is 750, and the total square footage is 1,000, the percentage is 75% (750 divided by 1,000 equals 75 percent). 2022 Household income Household income includes your income and your spouse’s income, if living together, and monetary contributions received from any other person living with you. If you and your spouse do not live together, you may file separate claims. If you received a property tax credit in 2022, do not report this as income. Income reported for the purpose of this application may be different than that reported on an income tax return. Line 8: Wages, salaries, unemployment compensation, tips, etc. - Enter the total wages, salaries, unemployment compensation, tips, bonuses, and commissions received. Line 9: In-kind assistance - Enter any portion of your housing expenses, including utilities, that were paid for you. Do not enter Federal Energy Assistance. 54-001b (07/19/2022) 2023 Iowa Property Tax Credit Claim, page 3 Line 10: Title 19 benefits - Enter your Title 19 benefits received for housing only. Do not include medical benefits. If you live in a nursing home or care facility, contact the administrator for the amount to enter, or: • Enter 20% of your benefits if you lived in a nursing home, or • Enter 40% if you lived in a care facility. Line 11: Social Security income - Enter the total Social Security benefits received, even if not reportable for income tax purposes. Include any Medicare premiums withheld. Line 12: Disability income - Enter the total received for disability or injury compensation, even if not reportable for income tax purposes. Line 13: All pensions and annuities - Enter the total received from pensions and annuities. Include retirement pay for military service, even if not reportable for income tax purposes. Line 14: Interest and dividend income - Enter taxable interest income, plus all interest income from federal, state, and municipal securities. Include taxable dividends and distributions received, cash dividends, and dividends paid in the form of merchandise or other property and report at fair market value. Line 15: Profit from business and/or farming and capital gain - Enter profit from business and/or farming, and any gain received from the sale or exchange of capital assets. Capital losses are limited to the same amount reportable for income tax purposes. Any loss must be offset against gain, and a net loss must be reported as zero. Line 16: Money received from others - Enter money received from others living with you. Do not include goods and services received. Line 17: Other income - Enter total income received from the following sources: • Child support and alimony payments. • Welfare payments. Include Family Investment Program (FIP), children’s Supplemental Security Income (SSI), and all other welfare program cash payments. Do not include foster grandparents’ stipends or non-cash government assistance (food, clothing, food stamps, medical supplies, etc.). • Insurance income not reported elsewhere on this form. • Gambling and all other income not reported elsewhere on this form. Treasurer’s Instructions Line C: Follow the steps below. 1. Obtain the taxable value of the land in the homestead for January 1, 2022, from the city or county assessor’s office. 2. Divide line B by line A. 3. Multiply the result in step 2 by the number in step 1. 4. Enter the result from step 3 on Line C. Line D: Obtain the taxable value of the homestead buildings for January 1, 2022, from the city or county assessor’s office. Multiply this number by the percentage provided by the claimant on line 6 of the form. Enter the result on line D. Line J: If line 5b was answered “Yes” enter the prorated gross property tax on line J or, if applicable, the prorated property tax base on line L. Example: There are three owners of a home, but only two of the owners reside there. The gross property taxes equal $1,800. The prorated amount to be entered on line J is $1,200, [($1,800 / 3) x 2 = $1,200]. Alternatively, each person may file a claim individually using their share of the property taxes. Prorate the Homestead Credit proportionately among the claimants. Line M: This percentage is to be used in computing the amount to enter on line J or, if applicable, the prorated property tax base on line L. This computation will adjust the taxes on the land in the homestead in the same proportion. Lines Q - T: A claimant filing a claim for the property tax credit who is at least 70 years of age and who has a household income of less than 250 percent of the federal poverty level is eligible to receive a credit against property taxes due on the claimant’s homestead. Follow the directions on page 5 to determine property tax credit eligibility. Total household income and allowable credit % Total household income $0.00 – $13,047.99, $13,048.00 – $14,582.99, $14,583.00 – $16,117.99, $16,118.00 – $19,187.99, $19,188.00 – $22,257.99, $22,258.00 – $25,327.99, $25,328.00 – or greater, Allowable credit enter 100% enter 85% enter 70% enter 50% enter 35% enter 25% no credit is allowed. 250% Federal poverty level guidelines Number of persons Total household income in family/household is less than or equal to 1 $33,975.00 2 $45,775.00 3 $57,575.00 4 $69,375.00 5 $81,175.00 6 $92,975.00 7 $104,775.00 8 $116,575.00 For families/households with more than 8 persons, add $11,800 for each additional person. 54-001c (07/19/2022) 2023 Iowa Property Tax Credit Claim, page 4 TREASURER’S USE ONLY Treasurer’s office will complete this part of form when taxes are ready Claimant name: __________________________________ Parcel number: _________________________________ Schedule for rented homestead tracts Taxable valuation information for the schedule below may be obtained from the city or county assessor’s office. A. Number of acres in homestead tract. (From county land records) .............................................. A. ______________ B. Number of acres in homestead tract used exclusively by claimant as reported on line 7. Do not include acres rented or rented on share .......................................................................... B. ______________ C. Taxable value as of January 1, 2022 of land in homestead used exclusively by claimant. Do not include the value of land rented or rented on shares. ...................................................... C. ______________ D. Taxable value as of January 1, 2022, of homestead buildings used exclusively by claimant. Do not include the value of rented homestead building. .............................................................. D. ______________ E. Total. Add lines C and D .............................................................................................................. E. ______________ F. Tax rate for taxes payable in fiscal year 2023-2024 .................................................................... F. ______________ G. Multiply line E by line F ................................................................................................................ G. ______________ H. Enter any Agricultural Land Tax Credit and/or Family Farm Tax Credit received on the land valuation as shown on line C ....................................................................................................... H. ______________ I. Subtract line H from line G. Enter the amount here. This amount cannot exceed claimant’s gross tax shown on line J below .................................................................................................... I. ______________ J. K. L. M. Credit computation Gross property tax due (include Homestead Credit) during the fiscal year 2023-2024. , (See instructions) .............................................................................................................. , Special assessments ........................................................................................................ Property tax base: If you have an amount on line I, add it to line K. (See instructions) If no amount on line I, add lines J and K. , Enter this amount or $1,000, whichever is less. ....................................................................... Percent of property tax base used in computing credit, from the schedule below. ........................... If total household income from line 18, page 1 is: Total household income $0.00 – $13,047.99, $13,048.00 – $14,582.99, $14,583.00 – $16,117.99, $16,118.00 – $19,187.99, $19,188.00 – $22,257.99, $22,258.00 – $25,327.99, $25,328.00 – or greater, .00 .00 .00 % Allowable credit enter 100% enter 85% enter 70% enter 50% enter 35% enter 25% no credit is allowed. N. Tentative credit: Multiply line L by line M. ......................................................................... O. Homestead Credit applicable to taxes payable in fiscal year 2023-2024. ........................ P. Property Tax Credit: Subtract line O from line N. ............................................................. , , , .00 .00 .00 Treasurers, proceed to the next page if the claimant is 70 years or older 54-001d (07/19/2022) 2023 Iowa Property Tax Credit Claim, page 5 TREASURER’S USE ONLY A claimant filing a claim for the property tax credit who is at least 70 years of age and who has a household income of less than 250 percent of the federal poverty level is eligible to receive a credit against property taxes due on the claimant’s homestead. For such a claimant, the tentative credit amount is equal to the greater of the following: (1) the amount of the credit as calculated under the schedule of credit amounts specified in Iowa Code section 425.23(1)(a) as if the claimant was an eligible claimant for a credit under that provision (see credit computation in lines J through P above); and (2) the difference between the actual amount of property taxes due on the homestead during the applicable fiscal year minus the actual amount of property taxes due on the homestead based on a full assessment during the first fiscal year for which the claimant checked “Yes” for box 3b and if the claimant has filed for the credit for each of the subsequent fiscal years after the first credit claimed. Eligibility for claimants who are age 70 or older as of December 31, 2022. If a claimant’s household income exceeds the federal poverty level table as described below, then the claimant is ineligible for the credit. 250% Federal poverty level table Number of persons in family/household 1 2 3 4 5 6 7 8 Total household income is less than or equal to $33,975.00 $45,775.00 $57,575.00 $69,375.00 $81,175.00 $92,975.00 $104,775.00 $116,575.00 For families/households with more than 8 persons, add $11,800 for each additional person. Q. Actual amount of property taxes due on homestead in fiscal year 2023-2024 (Subtract all credits) ...................................................................................................... R. Actual amount of property taxes due on the homestead based on full assessment during first fiscal year for which the claimant filed a credit for claimants who checked “Yes” in box 3b (Subtract all credits)............................................................................. S. Tentative credit: Subtract line R from line Q ................................................................. T. Homestead Credit applicable to taxes payable in fiscal year 2023-2024 ..................... U. Property Tax Credit: Subtract line T from line S ........................................................... V. Actual credit: Enter the greater of line U and line P. ..................................................... , .00 , .00 , .00 , .00 , .00 .00 , 54-001e (07/19/2022)
Extracted from PDF file 2023-iowa-form-54-001.pdf, last modified October 2022

More about the Iowa Form 54-001 Other Tax Credit TY 2023

Form 54-001 requires you to list multiple forms of income, such as wages, interest, or alimony .

We last updated the Iowa Property Tax Credit Claim in January 2024, so this is the latest version of Form 54-001, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 54-001 directly from TaxFormFinder. You can print other Iowa tax forms here.


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Other Iowa Other Forms:

TaxFormFinder has an additional 43 Iowa income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form 54-130 Iowa Rent Reimbursement Claim
Form 54-028 Homestead Property Tax Credit Application
Form 54-001 Iowa Property Tax Credit Claim
Form 54-024 Business Property Tax Credit Application
Form - TPM Participating Manufacturer Certification Form & Instructions

Download all IA tax forms View all 44 Iowa Income Tax Forms


Form Sources:

Iowa usually releases forms for the current tax year between January and April. We last updated Iowa Form 54-001 from the Department of Revenue in January 2024.

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Form 54-001 is an Iowa Other form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

Historical Past-Year Versions of Iowa Form 54-001

We have a total of six past-year versions of Form 54-001 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form 54-001

Iowa Property Tax Credit Claim, 54001

2022 Form 54-001

Iowa Property Tax Credit Claim, 54001

2020 Form 54-001

Iowa Property Tax Credit Claim, 54001

2019 Form 54-001

Iowa Property Tax Credit Claim, 54001

2018 Form 54-001

Iowa Property Tax Credit Claim, 54001

2017 Form 54-001

Iowa Property Tax Credit Claim, 54001


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