Idaho House OKs Bill to End Indexing of Homeowner Exemption
BOISE, Idaho (AP) — The Idaho House has approved legislation to cap the state's homeowner property tax exemption.
House lawmakers voted 55-15 Tuesday to fix the maximum homeowner exemption to $100,000. State law allows qualified homeowners to claim the property tax exemption for their primary dwelling and up to one acre of land.
The exemption is for 50 percent of the assessed home value, up to the maximum exemption limit. Currently, the exemption rate is based on the Idaho House Price Index published by the Federal Housing Finance Agency.
Republican Rep. Janet Trujillo of Idaho Falls says the bill is needed to provide stability to Idaho taxpayers. However, Democratic Rep. John Gannon of Boise argues the measure only ensures higher taxes for homeowners. The bill now heads to the Senate.