The Iowa Application for Industrial Property Tax Exemption is a form available to businesses in Iowa that qualify for partial or full exemption of taxes on industrial property owned or leased in the state. This form is available to businesses that meet specific criteria, such as those engaged in manufacturing, processing, research and development, or biotechnology activities. Depending on the type of business and the amount of property taxes owed, businesses may qualify for a full exemption or a partial exemption. There are two main types of Iowa Application for Industrial Property Tax Exemption: the Full Industrial Property Tax Exemption and the Partial Industrial Property Tax Exemption. The Full Industrial Property Tax Exemption provides complete exemption from taxes on industrial property owned or leased in Iowa, while the Partial Industrial Property Tax Exemption provides a partial exemption for eligible businesses. Both types of exemption require businesses to complete the Iowa Industrial Property Tax Exemption Application and provide supporting documents to prove eligibility.