HOW IS PROPERTY ASSESSED?
Idaho law requires that all taxable property be assessed at market value each year. To do this, the county Assessor develops valuation guidelines based on the sale prices and features of homes that have recently sold. Features that influence what a buyer may pay for your home and land, include size, quality, age, condition and location.
Buyers and sellers in the real estate market establish value. The Assessor’s staff researches the market and collects sales information about properties to estimate value.
It is important to note that the Assessor is simply analyzing the information produced in the market to determine estimated value. The economic principles of supply and demand, along with the desire of the purchaser and seller of a property, determine fair value.
HOW OFTEN ARE PROPERTY VALUES ADJUSTED?
The value of your property may change each year depending on real estate market changes.
An Appraiser from the county Assessor’s office is required to visit your property at least once in each five year period. During the other four years, the county Assessor will use information from property sales to estimate the current market value for your property.
HOW CAN MY PROPERTY BE ASSESSED ON IMPROVEMENTS WHEN I HAVEN'T MADE ANY?
HOW DO I GET THE MAILING ADDRESS CHANGED ON MY PROPERTY?
WHAT MAKES PROPERTY REAL OR PERSONAL?
Real property consists of land and the improvements that are attached to it. Personal property typically is not attached to the land. It is generally mobile and does not last as long as real property. A copy machine is an example of personal property.
Properly registered vehicles, including recreational vehicles, are not subject to property tax.
WHAT IS PERSONAL PROPERTY?
If you operate a business, there will be taxable personal property. Taxable personal property consists of anything a person uses to operate a business excluding business inventory, for example: furniture, fixtures and equipment. The county Assessor’s office sends declarations to businesses, which are to be returned to the Assessor’s office no later than March 15th of each year.
Transient personal property is unregistered construction, logging and mining equipment that spends more than 30 days in more than one county in the state during the same year. Declarations must be filed on or before the first day of November of each year.
AT WHAT VALUE IS PERSONAL PROPERTY ASSESSED?
Depreciation tables, sales information, cost guides, and other resources are used in this process.
All property is assessed at market value. Idaho law provides that county officials have the option to double the assessed value of any personal or transient property they discover was willfully concealed in order to avoid paying tax. The assessment is doubled for each year the property was not assessed.
HOW DO I KNOW WHAT VALUE THE ASSESSOR HAS ESTIMATED FOR MY PROPERTY?
WHAT IF I DISAGREE WITH THE VALUE THE ASSESSOR ESTIMATED FOR MY PROPERTY?
If you have questions about your assessment, you should contact your county Assessor to review the accuracy of your property information. You may appeal the valuation before the Board of Equalization for the county in which the property is located. This board consists of the County Commissioners. Most appeals must be filed with your county Assessor by the fourth Monday in June. Properties assessed at other times of the year have different appeal dates.
Be prepared to document your reasons for requesting a change in your property’s assessed value. You must prove that the Assessor’s value is erroneous.
WHY DO PROPERTY VALUES CHANGE?
A property’s value may change for a number of reasons. The most obvious is that the property changes. A bedroom, garage, or bathroom is added, or part of the property is destroyed by vandalism or fire.
The most frequent cause of a change in value is a change in the market. If a community’s major industry leaves, property values can collapse. As older neighborhoods with good quality housing are purchased, prices may gradually rise, possibly even soar as the neighborhood becomes desirable. A shortage of homes in a desired neighborhood can send prices to extreme levels. In a recession, larger homes may stay on the market longer; however, smaller homes will be in greater demand, so their prices will rise.
In a stable neighborhood, with no extraordinary pressure from the market, inflation may increase property value.
IS ANY TAX RELIEF AVAILABLE TO HOMEOWNERS?
Idaho has a Homeowner’s Exemption for owner-occupied homes, including manufactured homes, that are primary dwellings. The exemption includes the value of your home and up to one acre of land. Taxes are computed on the remaining value. You may also receive the Homeowner’s Exemption if you are paying occupancy taxes.
Homeowner applications are available from your county Assessor’s office or under “FORMS” on the website. All new Homeowner applications must be filed by April 15th. When an application is approved, the exemption is generally permanent as long as you own and occupy the property as your Primary Residence. If the property is sold, the new owner must file a new application.
You may also qualify for the Property Tax Reduction (commonly known as Circuit Breaker), if you meet the income requirements and fit one of the following categories:
- Age 65 or older, Widow(er)
- Former POW
- Fatherless or Motherless Minor
- Qualifying Disabled Persons
The application may be obtained from your county Assessor or via our website under “FORMS”. The PTR application must be filed each year between January 1st and April 15th.
HOW DO I CHANGE THE NAME OF THE OWNER ON MY PROPERTY?
The assessor’s office is not able to provide legal advice to owners or potential owners on how to handle a change of name/ownership. Therefore, we recommend that you contact a title company or an attorney to advise you on the procedure.
HOW DO I CORRECT THE ACREAGE ON MY PROPERTY?
Acreage amendments need to be researched and calculated. Additional information supplied by the property owner may help in this regard. Please inform the Mapping Department of any surveys or description changes to your property that would be helpful in determining the proper acreage for any given parcel.
HOW DO I CORRECT OR CHANGE THE BOUNDARIES OF MY PROPERTY, SUCH AS A LOT LINE ADJUSTMENT?
The Assessor’s office cannot provide legal advice or assist you in the creation or amendment of documents or surveys.
HOW DO I CONVERT MY MANUFACTURED HOME INTO REAL PROPERTY?
The owner will then contact the Building Department located within his or her jurisdiction for inspection to verify the home is set according to Idaho Code 63-304.
The owner will have his or her signature notarized and submit the completed “Statement of Intent” form to the Recorder’s office to record the document. The Recorder’s office will return the original “Statement of Intent” to the owner.
After recording, the owner will take the original “Statement of Intent” form and original title (NO COPIES) to the Department of Motor Vehicles (DMV). The DMV then forwards the documents to the Idaho Transportation Department in Boise, and this office will eliminate the title for the manufactured home.
CAN I REVERSE A MANUFACTURED HOME FROM REAL PROPERTY TO PERSONAL PROPERTY?
Prepay the current year’s property taxes on the home in the county Treasurer’s office. If necessary, obtain a permission letter from the lender on the mortgage.
The owner’s signature should be notarized and then recorded in the Recorder’s office.
The owner then takes the recorded “Reversal of Declaration” form (the original) to the Department of Motor Vehicles to obtain a receipt of title. The new title is issued by the Idaho Transportation Department in Boise.
HOW DO I CHANGE THE LOCATION OF MY MANUFACTURED HOME?
If the manufactured home is your primary residence, be sure to apply for the Homeowner’s Exemption. This form is available from the Assessor’s office or via our website here.
HOW DO I CHANGE OWNERSHIP ON MY MANUFACTURED HOME?
Chief Deputy Assessor
Dept of Motor Vehicles
475 E Deinhard Ln. Ste 106
Phone: (208) 634-8102
Fax: (208) 485-7558
Monday - Friday
9:00 am - 4:30pm