HOUSE BILL 564
Homestead exemption
TAXATION – Amends existing law to provide for the proration of the homestead exemption based on the change in status of the property.
RS31353C1 / H0564
This proposed legislation clarifies Idaho Code which removed the April 15th Homeowner’s Exemption deadline for existing homes (properties going from a rental to primary residence).
This proposed legislation directs all 44 Idaho counties and the Tax Commission on how to implement the Homeowner’s Exemption in a uniform manner across Idaho by including the new formula of levy rate times the value of the home (either with or without the $125,000 Homeowner’s Exemption) times the days of ownership.
If this proposed legislation becomes law, there would be a de minimis effect on county property tax collection because Homeowner Exemptions would be going on the rolls and off the rolls as necessary.
| Date | Description |
|---|---|
| 02/14 | Introduced, read first time, referred to JRA for Printing |
| 02/15 | Reported Printed and Referred to Revenue & Taxation |