The Greene County board of supervisors approved at its regular meeting Oct. 6 the first application for a homestead tax credit allowed to disabled military veterans by a bill approved by the 2013 session of the Iowa legislature.
Iowa Code 425.15 allows a 100 percent homestead tax credit to veterans who are determined to be 100 percent disabled and have an annual household income of less than $35,000. Tax coordinator Pam Olerich explained to the supervisors that the degree of the veteran’s disability must be certified by the Veterans Administration each year, and that in some cases, recertification may not happen. “This is a constantly moving credit,” Olerich said.
The credit is on the veteran’s homestead only, not on any ag land or commercial property he may own. The credit is not refunded by the state; it is a loss of property tax revenue to all taxing entities, including the county, the school, and the city (depending on where the veteran lives). County assessor Linda Spearman said that not many veterans in Greene County will qualify due to the 100 percent disability requirement, but that in larger cities it may amount to significant lost revenue.
Military veterans already qualify for an exemption on their property tax. After filing the correct paperwork, $1,852 in the taxable value of a veteran’s homestead is exempt from property tax. No disability is needed to claim the exemption. The veteran must be honorably separated, retired, furloughed to a reserve, on inactive status or discharged. The exemption is refunded to the county by the state.
“He spent time in the military service and he’s 100 percent disabled. Why not? He fought for our country,” supervisor Tom Contner said about approving the application.
In other action, the supervisors approved an amendment to the FY 15 budget following a public hearing at which there were no public comments. See the Sept. 24 post under the News tab of GreeneCountyNewsOnline for information about the changes and the amened budget form.
