After closing day, the keys and the paperwork pile up fast. One form that deserves a spot at the top of your to-do list is Iowa's homestead application. It takes a few minutes, and it lowers your property taxes every year you live in the home.

Step 1: Make sure you qualify

The homestead exemption is for the home you actually live in as your main residence. In general, you need to be an Iowa resident who occupies the home on July 1 and lives there at least six months of the year. You can only claim it on one property. Rentals, vacation homes and investment properties don't qualify.

Step 2: Get the form

The application is Iowa Department of Revenue Form 54-028. You can download it from the Department of Revenue or your assessor's website. Many county assessors, including Polk and Dallas, also offer online filing.

Step 3: File with your city or county assessor

Send it to the assessor for the city or county where the home is located, not the state. Depending on the office, you can file online, by email, by mail, by fax or in person. If you're not sure which assessor you have, search your address on the county assessor's website.

One tip: some assessors can't process the application until the property shows up in their records with your name as deed holder. If you file right after closing and they ask you to wait, check back in a couple of weeks.

Step 4: Watch the July 1 deadline

The form must be filed or postmarked by July 1 of the year you first claim the exemption. A claim filed after July 1 counts for the following year. That means:

  • If you close in the spring, file right away so it applies this year.
  • If you close after July 1, file anyway. It will apply starting next year.

Step 5: You're done (mostly)

Once it's approved, the exemption carries forward each year without refiling, as long as you keep qualifying. If you sell the home or stop living in it as your primary residence, you're required to let the assessor know in writing.

Bonus: ask about other credits

While you're talking to the assessor, ask about other benefits you might qualify for. Iowa has additional exemptions or credits for homeowners 65 and older, certain disabled veterans, and military service members. Each one has its own form and rules.

I remind every one of my clients about this after closing, because it's real money. For the bigger picture on how the 2026 law changed the homestead benefit, read Iowa's new homestead exemption explained.