Iowa Code 425.9 – Credits in excess of tax — appeals — refunds
Current as of: 2023 | Check for updates
|
Other versions
1. If the amount of credit apportioned to any homestead under the provisions of this subchapter in any year shall exceed the total tax, exclusive of any special assessments levied against said homestead, then such excess shall be remitted by the county treasurer to the department of revenue to be redeposited in the homestead credit fund and be reallocated the following year by the department as provided in this subchapter.
Terms Used In Iowa Code 425.9
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Director: means the director of the department of revenue. See Iowa Code 453A.42
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Homestead: means the dwelling owned or rented and actually used as a home by the claimant during the period specified in subsection 2, and so much of the land surrounding it including one or more contiguous lots or tracts of land, as is reasonably necessary for use of the dwelling as a home, and may consist of a part of a multidwelling or multipurpose building and a part of the land upon which it is built. See Iowa Code 425.17
- year: means twelve consecutive months. See Iowa Code 4.1
2. If any claim for credit made hereunder has been denied by the board of supervisors, and such action is subsequently reversed on appeal, the credit shall be allowed on the homestead involved in said appeal, and the director of revenue, the county auditor, and the county treasurer shall make such credit and change their books and records accordingly.
3. In the event the appealing taxpayer has paid one or both of the installments of the tax payable in the year or years in question on such homestead valuation, remittance shall be made to such taxpayer of the amount of such credit.
4. The amount of such credit shall be allocated and paid from the surplus redeposited in the homestead credit fund provided for in subsection 1.