Best Tax Lawyers in Cedar Rapids, IA

FAQs

• Where does the Tax Court hold trial sessions closest to Cedar Rapids, Iowa?

  The nearest location to Cedar Rapids where the Tax Court holds trials is in Des Moines. However, it does not have a permanent courtroom there. For a specific court address, please refer to the trial notice.

• Where is the low-income taxpayer clinic that is closest to Cedar Rapids, Iowa?

  Low-income taxpayers seeking assistance in Cedar Rapids can visit the regional office of the Iowa Legal Aid LITC at 317 7th Avenue SE Suite 404 Cedar Rapids, IA 52401. It can be contacted by phone at 1-800-532-1275.

• What are the income tax exemption rules for Cedar Rapids?

  In Cedar Rapids, single residents earning $9,000 or under, or those 65 and older with a net income of $24,000 or less, don't owe state income tax. For those with different filing statuses, the income limit is $13,500 or $32,000 if 65 or older. Dependents with earnings below $5,000 are also tax-free. If taxes were withheld from the individual's earnings, but they qualify for an exemption, they must file a state return to secure a refund.

• What if you overpaid your taxes in Cedar Rapids?

  If a Cedar Rapids citizen feels they've paid excess on their taxes, they can lodge a refund request with the Iowa Department of Revenue. This must occur within three years of the return due date or a year from the payment date, whichever comes later. If their refund claim isn't acted on within six months or is reduced or denied, they possess the right to appeal, similar to when facing a Notice of Assessment.

• How much is the military service tax exemption for veterans in Cedar Rapids?

  The military service tax exemption for Cedar Rapids veterans is $4,000 in taxable value. To qualify, veterans must have been honorably separated, retired, discharged, or placed in reserve or inactive status. Unregistered qualifying veterans should apply for the exemption via the Iowa Department of Revenue's website by July 1.

• Who administers property tax in Cedar Rapids?

  Cedar Rapids endorses property tax on all taxable properties within its jurisdiction, which is enforced by Linn County. The tax applies to real property, including residential, agricultural, commercial, industrial, and utilities/railroad classes. Revenues gathered from this tax benefits various entities, such as cities, hospitals, agricultural extension districts, and K-12 and merged area schools.

• How is tax exemption calculated for industrial properties with added value in Cedar Rapids?

  According to Chapter 15 of Cedar Rapids' Code of Ordinances, industrial real estate with added value qualifies for a partial tax exemption for a five-year period. The exemption is calculated on a reducing scale, starting from a 75% exemption in the first year, reducing by 15% each year until it reaches 15% in the fifth year. The added value is assessed at the exemption's commencement and annually for machinery enhancements.