FINANCIAL ADVANTAGE
Additional Benefits for Iowa Veterans
Iowa Veterans and their families may qualify for valuable state benefits that can reduce property taxes, help cover higher-education expenses, and make purchasing a home more affordable. Understanding the Iowa disabled Veteran benefits available to you—from property tax relief to education assistance and military homebuyer grants—can help you make the most of the benefits you’ve earned through military service.
Tax Relief
Property Tax Benefits for Veterans in Iowa
- Qualifying disabled Veterans can receive a property tax credit equal to 100% of the taxes levied on their qualifying homestead. Iowa's Disabled Veteran Homestead Property Tax Credit is available to qualifying Veterans with a permanent 100% service-connected disability and Veterans with a permanent and total disability based on individual unemployability who are compensated at the 100% rate.
- Certain surviving spouses and children may also qualify. The benefit can continue for qualifying surviving spouses, and Iowa law also provides eligibility in certain circumstances for surviving spouses or children receiving Dependency and Indemnity Compensation (DIC). The credit has no income restriction, and eligible Veterans generally do not need to reapply annually once approved.
Family Tuition Assistance
Education Benefits for Iowa Veterans & Families
- Children of fallen Iowa service members may qualify for postsecondary education assistance. The Children of Fallen Iowa Service Members Scholarship helps children of qualifying service members who died while serving in an active military status after September 11, 2001. The service member must have been an Iowa resident when entering military service and at the time of death, and the student must attend an Iowa postsecondary institution. The death does not have to be combat-related.
- Scholarship funds can help with more than tuition. Eligible expenses can include tuition, books, fees, housing, required tools and equipment, school-approved tutoring, and other required educational expenses. Students can still qualify when using federal benefits such as the Fry Scholarship.
Home Financing
Home Loan Benefits for Iowa Veterans
- Eligible Veterans and service members can receive a $5,000 homebuyer grant. Iowa's Military Homeownership Assistance Program provides a $5,000 grant that can be used toward down-payment and closing costs on a qualifying home in Iowa. Eligible service includes qualifying active duty from September 11, 2001 to the present, as well as certain service between August 2, 1990 and April 6, 1991. Certain surviving spouses may also qualify.
- The military grant can be combined with other Iowa homebuyer programs. Military Homeownership Assistance funds can be used with Iowa's FirstHome and Homes for Iowans programs, potentially giving eligible buyers access to additional mortgage and down-payment assistance. Program approval is required before closing, and assistance remains subject to available funding and other eligibility requirements.