HOUSE BILL 701
General Orders
Homestead exemption
TAXATION – Amends existing law to provide for the proration of the homestead exemption based on the change in status of the property.
RS31590 / H0701
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 |
---|---|
03/05 | Introduced, read first time, referred to JRA for Printing |
03/06 | Reported Printed; Filed for Second Reading |
03/07 | Read second time; Filed for Third Reading |
03/08 | U.C. to be placed on General Orders, no objection |
03/15 | Retained on General Orders |
03/25 | Retained on General Orders |