In the middle of November, applications were sent to all properties eligible for the Business Property Tax Credit. The envelope was from the Marion County Assessor and included the application, a cover letter from me, and an informational sheet on the credit. The application already had almost everything filled out on the form. The only items on the form one has to fill in are: the contact information at the top of the form and, sign and date it. There was a preaddressed envelope included to return it to the Assessor’s office. Our office has received about fifty percent of these back. There’s only one month left to get these to our office.
The Business Property Tax Credit is a credit against taxes based on valuation for commercial, industrial, and railroad classed property units. It will be deducted from the property taxes owed and shown on the property tax statement. The credit is first available for the 2013 valuations, for which taxes will be payable in September 2014 and March 2015. The deadline for filing is January 15, 2014.
An application must be filed with the Assessor’s office to receive this credit. Any applications received after January 15, 2014, will be considered applications for the next year. Postmarks of January 15, will not be considered timely filed. The Iowa Department of Revenue has informed Assessors that the law states that it has to be in our office on or before January 15, 2014.
There’s still time to get the applications returned to the Assessor’s Office before the deadline of January 15.