Bill > H0649

This bill amends existing law to provide an additional homeowner exemption for certain persons age 65 and older. The key provisions are: 1. Beginning in 2020, homeowners who are 65 years or older can receive an additional property tax exemption. The amount of the exemption is calculated based on the difference between the property's current market value and its market value either in 2019 or the year the homeowner turned 65, whichever is later. 2. To qualify, the homeowner must have continuously resided on the same property as their primary dwelling since turning 65. 3. The existing homeowner exemption, which exempts the first $100,000 or 50% of the home's market value, whichever is less, remains in effect. 4. The bill also includes provisions for recovering improperly claimed exemptions and maintaining exemption eligibility in certain cases, such as military service or the death of the homeowner.

Budget and Finance

Ways and Means Committee (House)

https://legislature.idaho.gov/sessioninfo/2020/legislation/H0649/