Senior Housing News
Iowa Age 65+ Property Tax Exemption
The link below provides eligibility details to qualify. The amount this exemption will reduce your net taxes depends on the tax district to which the home is assigned. Military Veterans will also receive a boost in the amount of assessed value their property tax is reduced.
https://tax.iowa.gov/idr-announces-homestead-tax-exemption-claimants-65-years-age-or-older
Iowa Income Tax Law Changes
During the 2022 session of the Iowa Legislature income tax laws were changed. Two items that directly impacted senior citizens in a positive manner dealt with the taxes on pensions and the tax rate on income. Pension income will no longer be taxed as income beginning in 2023 and the tax rate will be reduced to a flat 3.9% for everyone beginning in 2026. This make it easier for seniors to afford housing. For more details on the changes visit the Tax Foundation website.
Vintage Cooperative of Ankeny is a not-for-profit housing cooperative corporation for those 55 years or older and can live an independent lifestyle. The cooperative model allows shareholders joint ownership of a facility with several amenities that promote personal development and social interaction.