Fill out the Homestead Tax Credit, 54-028 form. Return the form to your city or county assessor.Eligible claimants who are 65 years of age or older on or before January 1 of the assessment year are now eligible for a homestead tax exemption. Address: City: State: ZIP: Phone: Answer these questions to determine eligibility: 1. Are you currently an Iowa resident? Iowa law provides for a number of credits and exemptions. Pre-populated Homestead Tax Credit Application Forms are available to be printed from within your parcel on our website. The Homestead Credit is available to all homeowners who own and occupy the residence. Give the form to your local assessor to claim the exemption. Homestead Tax Credit Form.