Bill
Bill > H0561
ID H0561
ID H0561Amends existing law to revise provisions regarding the calculation of market value for assessment purposes of property upon the appeal of the assessed value.
summary
Introduced
02/27/2020
02/27/2020
In Committee
03/18/2020
03/18/2020
Crossed Over
03/02/2020
03/02/2020
Passed
Dead
03/20/2020
03/20/2020
Introduced Session
2020 Regular Session
Bill Summary
PROPERTY -- Amends existing law to revise provisions regarding the calculation of market value for assessment purposes of property upon the appeal of the assessed value.
AI Summary
This bill amends existing law to revise the provisions regarding the calculation of market value for assessment purposes of property when the assessed value is appealed. The key provision is that if the appealing property owner provides the assessor with a documented sales price from an arm's-length transaction completed within the previous 12 months, that sales price shall establish the market value for assessment purposes of the property. This change allows the documented sales price to be used as the basis for determining the market value rather than relying solely on the assessor's calculation.
Committee Categories
Budget and Finance, Justice
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Revenue and Taxation Committee (House)
Last Action
Returned from Governor vetoed on March 25, 2020 (on 03/20/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2020/legislation/H0561/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2020/legislation/H0561E1.pdf |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2020/legislation/H0561.pdf |
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