Bill > H0709

This bill amends existing law to establish the County and City Property Tax Relief Fund. The bill requires that 11.5% of state sales and use taxes collected by out-of-state retailers and marketplace facilitators be distributed to this new fund. The moneys in the fund will be distributed to counties and cities to provide property tax relief, with 50% going to counties and 50% going to cities based on their 2021 property tax budgets. The bill also requires that in 2022, the property tax budgets of counties and cities be reduced by 50% of the amount they receive from the new fund, in order to provide direct property tax relief. This bill aims to offset property tax increases for local governments through the distribution of state sales tax revenue.

Budget and Finance

Revenue and Taxation Committee (H)

https://legislature.idaho.gov/sessioninfo/2022/legislation/H0709/