Bill > SF351

This bill establishes a Surviving Spouse Property Tax Deferral Program in Iowa. The key provisions of the bill are: 1. It allows certain surviving spouses who are 65 or older and have a household income of $60,000 or less to defer payment of property taxes on their homestead, subject to certain eligibility requirements. 2. The deferred amount is capped at 75% of the homestead's actual value, less any existing mortgage or liens. The deferred taxes, plus interest, become due when the homestead is sold, transferred, or the surviving spouse no longer qualifies. 3. The state will pay the deferred property taxes to the county treasurer and be reimbursed from the general fund. The bill also includes provisions for administering the program, such as allowing appeals, prescribing forms, and imposing penalties for false claims. 4. The bill applies retroactively to January 1, 2021, for assessment years beginning on or after that date and to the filing of claims for deferral on or after January 1, 2022.

Budget and Finance

https://www.legis.iowa.gov/legislation/BillBook?ga=89&ba=SF351