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Bremer County supervisors approve homestead exemption changes tied to Senate File 2472
Summary
The Bremer County Board of Supervisors voted to approve homestead exemptions and related disallowances for assessment year 2026 after the assessor explained the transition from a homestead credit to a homestead exemption under Senate File 2472 and the state reimbursement phase-out through FY2030.
Bremer County supervisors voted to approve the assessor’s recommended homestead exemptions and disallowances for assessment year 2026 following a presentation on changes under Senate File 2472.
Aaron Betts, Bremer County assessor, told the board that Senate File 2472 replaces the previous homestead credit with a homestead exemption that reduces taxable value by 10 percent subject to a minimum and maximum. “So Senate File 2472, that replaced the homestead credit with a homestead exemption,” Betts said, describing the change in how the benefit will appear on property tax statements.
The measure keeps eligibility rules the same (residency and occupancy requirements), modifies how disabled-veteran claims are handled (limiting qualifying acreage to 0.5 acre in both urban and rural settings) and shifts the fiscal burden gradually from state to local government. Betts said the state reimbursement schedule will phase down (66.6 percent, then 33 percent) until reimbursement ends in fiscal year 2030.
Heather (assessor’s staff) provided local counts the board approved: 283 new homestead exemptions (under the new name), 159 new 65-plus exemptions, 31 new military exemptions and 41 new disabled-veteran homestead allowances. She said disallows to be mailed included five military exemption denials and six disabled-veteran denials. “We went from around 63 new applicants last year to 159 this year for the 65-plus exemption,” Heather said, noting outreach and word-of-mouth as likely drivers for the increase.
Betts walked the board through examples showing how a 10 percent exemption would affect taxable value and noted the Department of Revenue will provide additional guidance on implementation, including a cumulative adjustment factor that may change the $20,000 ceiling after 2026.
Board members moved and seconded the assessor’s recommendations and approved them by voice vote; the chair confirmed the aye votes and directed staff to prepare signatures and notification letters for approved and disallowed applicants.
The presentation included statewide context provided by the assessor’s office (average annual benefit, statewide homestead counts), and Betts said the office is coordinating with the Iowa Department of Revenue and Tyler software representatives to implement the new calculations and application handling.
What happens next: staff will prepare and mail the disallowance letters and continue coordination with state guidance and software vendors to implement the exemption for the 2026 assessment year.
