Complete the application. Print the New 65 plus Homestead Exemption Form.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. Scroll down to the Homestead Tax Credit section and click on the link that states: Apply online for the Iowa Homestead Tax Credit. Fill out the application. This credit is available if you own and occupy a home as your primary residence in Iowa. To be eligible, you must apply for the credit on or before July 1. Filing for homestead tax credit will save you money every year on your property taxes.