Some owners of real estate will see higher property-tax bills next month. Lyon County Treasurer and president of the Iowa State Association of Counties Dick Heidloff says the state is not fully funding tax credits. The state’s giving counties less money, so the taxpayer has to make up the difference. Heitloff uses homestead credits as an example, saying they’re funded at only 85-percent. In a situation where they might have gotten 100-dollars in homestead credit, the state will only pay 85 this year, so as the taxpayer sees it, their taxes are fifteen dollars higher. Heitloff says he’s most concerned about how the cut in tax credits will affect low-income seniors in Iowa.They don’t have CDs, bank accounts or lots of cash on hand but are living off their income from Social Security and if they make under eight-thousand dollars a year they could get 100-percent credit, and pay no taxes, but this year the state will only pay forty-percent so those people will have to come up with money to pay the rest. This is the second year lawmakers have trimmed property-tax credits to deal with a tight state budget. New tax statements will be in the mail to property owners next month.
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