Bill
Bill > S1416
ID S1416
ID S1416Amends existing law to increase the homeowner exemption to $120,000 and restore the inflation index.
summary
Introduced
03/13/2020
03/13/2020
In Committee
03/19/2020
03/19/2020
Crossed Over
Passed
Dead
03/20/2020
03/20/2020
Introduced Session
2020 Regular Session
Bill Summary
PROPERTY TAXES -- Amends existing law to increase the homeowner exemption to $120,000 and restore the inflation index.
AI Summary
This bill amends existing law to increase the homeowner property tax exemption from $100,000 to $120,000 for the 2020 tax year. Additionally, it requires the State Tax Commission to annually adjust the exemption amount to reflect changes in the cost-of-living, as measured by the U.S. house price index for Idaho. The bill also includes provisions for recovering improperly claimed exemptions and allows homestead exemptions to continue in certain circumstances, such as when the owner is on active military service or the homestead is part of the owner's estate after their death.
Committee Categories
Government Affairs, Justice
Sponsors (0)
No sponsors listed
Other Sponsors (1)
State Affairs Committee (Senate)
Last Action
Referred to State Affairs (on 03/19/2020)
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/S1416/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2020/legislation/S1416.pdf |
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