Form 54-001a - Iowa Property Tax Credit Claim - 2016 Page 2
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22016 Iowa Property Tax Credit Claim, page 2
Treasurer’s office will complete this side of form when taxes are ready.
OFFICE USE ONLY
Claimant Name:
Parcel Number:
______________________________
______________________________________
Schedule for Rented Homestead Tracts
Taxable valuation information for the schedule below may be obtained from city or county assessor’s office.
A.
Number of acres in homestead tract. (From county land records) ......................
A.
B.
Number of acres in homestead tract used exclusively by claimant as reported
on line 7. Do not include acres rented or rented on shares .................................
B.
C.
Taxable value as of January 1, 2015, of land in homestead used exclusively by
claimant. Do not include the value of land rented or rented on shares. (See
treasurer’s instructions) .......................................................................................
C. $
D.
Taxable value as of January 1, 2015, of homestead buildings used exclusively
by claimant. Do not include the value of rented homestead building. (See
treasurer’s instructions) .......................................................................................
D. $
E.
Total. Add lines C and D .....................................................................................
E. $
F.
Tax rate for taxes payable in fiscal year 2016-2017. ...........................................
F.
G.
Multiply line E by line F .......................................................................................
G. $
H.
Enter any Agricultural Land Tax Credit and/or Family Farm Tax Credit received
on the land valuation as shown on line C ............................................................
H. $
I.
Subtract line H from line G. Enter the amount here. This amount cannot exceed
claimant’s gross tax shown on line J below .........................................................
I. $
Credit Computation
J. Gross property tax due (include Homestead Credit)
during the fiscal year 2016-2017.(See treasurer’s instructions) ...............
,
.
K.
Special assessments. ...............................................................................
,
.
L. Property tax base: If you have an amount on line I, add it to line K. (See treasurer’s instructions.)
If no amount on line I, add lines J and K.
Enter this amount or $1,000, whichever is less. ......................................
,
.
M.
Percent of property tax base used in computing credit, from the schedule below.
%
If total household income from line 18, page 1 is:
$0.00 - 11,518.99 enter 100%
11,519 - 12,873.99 enter 85%
12,874 - 14,228.99 enter 70%
14,229 - 16,939.99 enter 50%
16,940 - 19,649.99 enter 35%
19,650 - 22,359.99 enter 25%
22,360 or greater no credit allowed
N.
Tentative credit: Multiply line L by line M ...................................................
,
.
O.
Homestead Credit applicable to taxes payable in fiscal year 2016-2017 ...
,
.
P.
Property Tax Credit: Subtract line O from line N .......................................
,
.
Page 2
54-001b (7/28/15)
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