Signed into law on May 4th, 2023, with bipartisan support, Iowa House File 718 introduces significant changes to the property tax landscape, specifically the Homestead Tax Credit, for Iowa residents. This reform primarily benefits seniors and veterans by reducing their property taxes. Simultaneously, it imposes a cap on cities regarding the amount they can levy for property taxes based on revenue. Iowa Republicans project that these changes will yield $100 million in property tax relief statewide. This blog post explains who stands to gain from these changes and how to apply for property tax relief.
If you're thinking of investing in real estate in Des Moines, Iowa, owning a rental property can be a great option to generate passive income. However, it's not as simple as just buying a property and renting it out. To be a successful landlord in Des Moines, you need to be well-informed about the local real estate market, organized, and prepared to handle various challenges that may arise. In this guide, we'll share valuable advice to help you make your rental property business a success.