Bill > S1021

This bill amends existing law to revise provisions regarding limitations on taxing district budgets. It caps the annual increase in property tax revenue that a taxing district can collect at a maximum of 3% plus the value of new construction and annexation. However, if the new construction value is less than 2% growth, the taxing district can choose either the 3% plus new construction/annexation increase or a 3% increase. The bill also allows taxing districts to "recover" any forgone increases from previous years, and provides exceptions for certain types of districts like school districts and fire districts. Overall, the bill aims to limit the growth in property tax revenue that taxing districts can collect without voter approval.

Budget and Finance, Justice

Local Government and Taxation Committee (Senate)

https://legislature.idaho.gov/sessioninfo/2021/legislation/S1021/