Iowa Code 426A.11 – Military service — exemptions
Current as of: 2024 | Check for updates
|
Other versions
The following exemptions from taxation shall be allowed:
1. The property, not to exceed two thousand seven hundred seventy-eight dollars in taxable value for assessment years beginning before January 1, 2023, of any veteran, as defined in section 35.1, of World War I.
Terms Used In Iowa Code 426A.11
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- property: includes personal and real property. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- United States: includes all the states. See Iowa Code 4.1
2. a. The property, not to exceed one thousand eight hundred fifty-two dollars in taxable value for assessment years beginning before January 1, 2023, of an honorably separated, retired, furloughed to a reserve, placed on inactive status, or discharged veteran, as defined in section 35.1, subsection 2, paragraph “a” or “b”.
b. The property, not to exceed four thousand dollars in taxable value for the assessment years beginning on or after January 1, 2023, of an honorably separated, retired, furloughed to a reserve, placed on inactive status, or discharged veteran, as defined in section 35.1, subsection 2, paragraph “a” or “b”.
3. Where the word “veteran” appears in this chapter, it includes without limitation the members of the United States air force, merchant marine, and coast guard.
4. For purposes of this chapter, unless the context otherwise requires, “veteran” also means a resident of this state who is a former member of the armed forces of the United States and who served for a minimum aggregate of eighteen months and who was discharged under honorable conditions. However, “veteran” also means a resident of this state who is a former member of the armed forces of the United States and who, after serving fewer than eighteen months, was honorably discharged because of a service-related injury sustained by the veteran.
5. For the purpose of determining a military tax exemption under this section, property includes a manufactured or mobile home as defined in section 435.1.