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Iowa Free Printable Family Farm Tax Credit, 54-023 for 2024 Iowa Application for Family Farm Property Tax Credit

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Application for Family Farm Property Tax Credit
Family Farm Tax Credit, 54-023

Family Farm Tax Credit Iowa Code chapter 425A and Iowa Administrative Code section 701 – 110.11 This application must be filed or postmarked to your city or county assessor on or before November 1. Upon filing and allowance of the claim, the claim is allowed for successive years without further filing as long as the person qualifies for the credit. An application filed or postmarked after November 1 will be considered as an application for the following year. Contact information for all assessors can be found at the Iowa State Association of Assessors website: iowa-assessors.org. Print applicant information Name: ___________________________________________________________________________ Applicant mailing address: ___________________________________________________________ City: ______________________________________ State: _____________ ZIP: _______________ Phone: _________________________ Email: __________________________________________ Relationship to owner: ______________________________________________________________ Select form of ownership: Partnership: ☐ Family Farm Limited Liability Company : ☐ Authorized Limited Liability Company: ☐ Property owners: Sole Proprietorship: Family Farm Corporation: ☐ ☐ Authorized Farm Corporation: ☐ Name: ____________________________________ Ownership share: _____________________ % Property owner mailing address: ______________________________________________________ City: ______________________________________ State: _____________ ZIP: _______________ Relationship of owners: _____________________________________________________________ Name: ____________________________________ Ownership share: _____________________ % Property owner mailing address: ______________________________________________________ City: ______________________________________ State: _____________ ZIP: _______________ Relationship of owners: _____________________________________________________________ Name: ____________________________________ Ownership share: _____________________ % Property owner mailing address: ______________________________________________________ City: ______________________________________ State: _____________ ZIP: _______________ Relationship of owners: _____________________________________________________________ Designated person actively engaged in farming: The designated person must be personally involved in the production of crops or livestock on the eligible tracts on a regular, continuous, and substantial basis (see instructions): __________________________________________________________________ Relationship of designated person to owner of property: ____________________________________ 54-023a (10/24/2021) Family Farm Tax Credit page 2 Is the tract leased or rented under a cash or crop share agreement? Yes ☐ No ☐ If leased, what is the relationship of the lessee to the owner of the tract? _______________________ Parcel number: ______________________________ Acres: ________________________________ Legal description: __________________________________________________________________ ________________________________________________________________________________ Parcel number: ______________________________ Acres: ________________________________ Legal description: __________________________________________________________________ ________________________________________________________________________________ Parcel number: ______________________________ Acres: ________________________________ Legal description: __________________________________________________________________ ________________________________________________________________________________ Parcel number: ______________________________ Acres: ________________________________ Legal description: __________________________________________________________________ ________________________________________________________________________________ Parcel number: ______________________________ Acres: ________________________________ Legal description: __________________________________________________________________ ________________________________________________________________________________ Attach additional pages if necessary. All of the above parcels are eligible tracts of agricultural land as described in Iowa Code section 425A.2(5). Yes ☐ No ☐ I, the undersigned, declare under penalties of perjury or false certificate, that I have examined this claim, and, to the best of my knowledge and belief, it is true, correct, and complete. Applicant signature: _________________________________________ Date: __________________ ASSESSOR USE ONLY Received by: _______________________________________________ Date: __________________ I recommend that the application be: Allowed: ☐ Disallowed: ☐ Signature: _________________________________________________ Date: __________________ BOARD OF SUPERVISORS USE ONLY Board of supervisors: The claim is: Allowed: ☐ Disallowed: ☐ Signature: _________________________________________________ Date: _________________ 54-023b (08/31/2021) Family Farm Tax Credit Instructions An eligible tract of agricultural land qualifies for the Family Farm Tax Credit if the tract is owned by an owner, as defined in section 425A.2, and a designated person is actively engaged in farming during the fiscal year preceding the fiscal year in which the auditor computes the amount of the credit under section 425A.5 for which the tract would be eligible. Notwithstanding the foregoing sentence, the “actively engaged in farming” requirement is satisfied if the designated person is in general control of the tract under a federal program pertaining to agricultural land. Actively engaged in farming means the same as Iowa Code section 425A.2(1). Agricultural land means the same as Iowa Code section 425A.2(2). Designated person means the same as Iowa Code section 425A.2(4). Eligible tract or eligible tract of agricultural land means the same as Iowa Code section 425A.2(5). Owner means the same as Iowa Code section 425A.2(6). The ownership criteria must be met on June 30 of the fiscal year prior to the fiscal year in which the application for credit is filed. For example, the ownership criteria must be met on June 30, 2021, for applications due November 1, 2021. See Iowa Admin. Code r. 701—110.11(1)(d) for examples illustrating family farm tax credit eligibility under various circumstances. In the case where the owner remains the same but the person who is actively engaged in farming changes, the owner shall refile for the credit. The owner shall provide written notice if the person actively engaged in farming changes. A person who fails to notify the assessor of a change in the person who is actively engaged in farming the tract for which the credit under section 425A.3 is allowed shall be liable for the amount of the credit plus a penalty equal to five percent of the amount of the credit. 54-023c (10/24/2022)
Extracted from PDF file 2023-iowa-form-54-023.pdf, last modified December 2019

More about the Iowa Form 54-023 Other Tax Credit TY 2023

This application must be filed or mailed to your city or county assessor by November 1. An application filed or postmarked after November 1 will be considered as an application for the following year. Contact information for all assessors can be found at the Iowa State Association of Assessors website: www.Iowa-Assessors.org.

We last updated the Application for Family Farm Property Tax Credit in February 2024, so this is the latest version of Form 54-023, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 54-023 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 54-023 from the Department of Revenue in February 2024.

Show Sources >

Form 54-023 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 54-023

We have a total of seven past-year versions of Form 54-023 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form 54-023

Family Farm Tax Credit, 54-023

2022 Form 54-023

Family Farm Tax Credit, 54-023

2021 Form 54-023

Family Farm Tax Credit, 54-023

2020 Form 54-023

Family Farm Tax Credit, 54-023

2019 Form 54-023

Family Farm Tax Credit, 54-023

2018 Form 54-023

Iowa Special Assessment Credit, 54036

2017 Form 54-023

Iowa Special Assessment Credit, 54036


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