Iowa § 25B.7 - 25B.7 Funding property tax credits and exemptions.
Full text of Iowa Iowa Code § 25B.7 — 25B.7 Funding property tax credits and exemptions., with citation guidance and answers to common questions.
§ 25B.7. 25B.7 Funding property tax credits and exemptions.
1. Beginning with property taxes due and payable in the fiscal year beginning July 1, 1998, the cost of providing a property tax credit or property tax exemption which is enacted by the general assembly on or after January 1, 1997, shall be fully funded by the state. If a state appropriation made to fund a credit or exemption which is enacted on or after January 1, 1997, is not sufficient to fully fund the credit or exemption, the political subdivision shall be required to extend to the taxpayer only that portion of the credit or exemption estimated by the department of revenue to be funded by the state appropriation. The department of revenue shall determine by June 15 the estimated portion of the credit or exemption which will be funded by the state appropriation. 2. The requirement for fully funding and the consequences of not fully funding credits and exemptions under subsection 1 also apply to all of the following: a. Homestead tax credit pursuant to section 425.1, sections 425.2 through 425.13, and section 425.15. b. Low-income property tax credit and elderly and disabled property tax credit pursuant to sections 425.16 through 425.40, subject to the limitation of section 425.39, subsection 1, paragraph “b”. 97 Acts, ch 206, §4; 99 Acts, ch 180, §22, 24; 2003 Acts, ch 44, §18; 2003 Acts, ch 145, §286; 2021 Acts, ch 177, §124, 131; 2023 Acts, ch 71, §24, 48 – 50, 55, 56 Referred to in §425.1A, 425.39 2021 amendment to subsection 2, paragraph b applies to claims under chapter 425, subchapter II, filed on or after January 1, 2022; 2021 Acts, ch 177, §131 2023 amendment to subsection 2, paragraph a applies retroactively to assessment years beginning on or after January 1, 2023; 2023 Acts, ch 71, §49 2023 strike of former subsection 2, paragraph c applies retroactively to assessment years beginning on or after January 1, 2023; 2023 Acts, ch 71, §56 Wed Dec 10 22:14:24 2025 Iowa Code 2026, Section 25B.7 (25, 0)
Source: official Iowa text · Last verified 2026-08-27
Frequently Asked Questions About Iowa § 25B.7
What does Iowa Code § 25B.7 cover?
Section 25B.7 ("25B.7 Funding property tax credits and exemptions.") is part of the Iowa Code, the codified statutory law of Iowa. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Iowa § 25B.7?
A common citation format is "Iowa Code § 25B.7" (Iowa). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Iowa law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Iowa official source linked on this page or consult a licensed Iowa attorney.
How does Iowa § 25B.7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Iowa can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Iowa.