Iowa Homestead Exemption Savings Calculator

Estimate how much the Iowa homestead exemption could save you each year. The example numbers are placeholders; enter your own from your assessment notice or tax bill.

Across Iowa, Census ACS 2020-2024 counts 943,396 owner-occupied homes (71.7% ownership). Use the calculator with figures from your assessment notice; the exemption math comes from the official source cited below.

How neighbors handle this

Illinois: Cook County ($10,000 general, $8,000 senior)

Neighbor figures are from the same verified official sources we cite on each page. Always confirm with the Iowa county office before filing.

The calculator models Iowa’s Homestead Tax Credit and Exemption. Official benefit summary: A homestead tax credit for owner-occupants, plus an additional exemption for owners 65 or older. Filing path from the source: Apply with your city or county assessor by July 1.

Population and housing figures: U.S. Census Bureau, ACS 2020-2024 5-year (state FIPS 19). Exemption figures checked against the official page on 2026-11-04.

How the exemption works

Iowa SF 2472 (2026) replaced the homestead credit with an exemption of 10% of taxable value, at least $5,500 and at most $20,000, starting with assessment year 2026 (taxes paid in September 2027 and March 2028).
Claimants 65 or older get an additional $6,500 exemption.

Assumptions

Savings = (10% of taxable value, kept between $5,500 and $20,000, plus $6,500 if 65+) × your levy per $1,000.
The Department adjusts the maximum for inflation from 2027.

Source: Iowa Department of Revenue. Figures checked against the official page on 2026-11-04.

How much does the Iowa homestead exemption save?

Multiply the exemption by your local tax rate. Savings = (10% of taxable value, kept between $5,500 and $20,000, plus $6,500 if 65+) × your levy per $1,000.

Is this calculator official?

No. It is an estimate based on figures from the official state source cited on this page.