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 market value.
The value of your property may change each year depending on real estate market changes.
An a ppraiser 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.
The term “Improvements,” as used in property assessment, does not refer to just remodeling, renovating or upgrading. “Improvements” are buildings (your house, garage, manufactured home, etc.), paving, or other structures that add value to land, regardless of when they were completed.
You may complete a Change of Address Request form or send a written change of address in a letter, on a postcard, or Post Office change of address form. You may also send us a copy of your assessment notice or tax bill showing the change. If you did not receive an assessment notice, contact the Assessor’s Office to determine what address we have on record and with the proper verification; change the address over the phone.
Real property consists of land and the improvements that are attached to it, while personal property is typically not attached. Personal Property may include tools, machinery, equipment, unregistered vehicles, office furniture, computers, lease hold improvements, etc.
Personal property consists of anything a person uses to operate a business, excluding business inventory, for example: furniture, fixtures and equipment. Businesses that operate with over $100,000 in personal property are required to report their inventory to the Assessor’s office no later than March 15th each year.
Personal property such as household items, livestock, and business inventory are exempt from taxation. Stand-alone personal property purchased after January 1st 2013 that cost less than $3,000 are also exempt from property taxes. (See Idaho Code sections 63-205, 63-302, 63-306, 63-311, 63-602KK, and 63-1401).
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 property tax. The assessment is doubled for each year the property was not assessed.
The value for your property is shown on your assessment notice. The county Assessor mails this notice to you by the first Monday in June. If you do not receive this notice, contact the county Assessor.
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.
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.
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 file online under “Forms and Applications” under the Assessor Menu. 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:
The application may be obtained from your county Assessor or under “Forms and Applications” under the Assessor Menu from late January through the April deadline. The PTR application must be filed each year between January 1st and April 15th.
There is a wide variety of situations in which the name on a property might change.
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.
Each situation involving a question of acreage must be examined individually by the Valley County Cartography Office. To assure the accuracy of your acreage, as well as to avoid any problems that may arise with future transfers, acreage amendments need to be researched and calculated.
Additional information supplied by the property owner may be required to help in this regard. Please be aware that as the county progresses into the digital world, we are recognizing that new statues and/or ordinances, which would require surveys, may need to be implemented
Changing the boundaries of properties must first be reviewed by the Department of Valley County Planning & Zoning. Our office will need to receive a recorded deed(s) or documents describing the lot line adjustment(s) between neighbors.
A survey is recommended to comply with the requirements for the State of Idaho mapping standards. A title company or surveyor can assist in the creation of the necessary documentation.
The Assessor’s Office cannot provide legal advice or assist you in the creation or amendment of documents or surveys.
The “Statement of Intent to Declare a Manufactured Home to Real Property” is available from the Assessor’s Office. A Deputy Assessor will sign the form verifying that the land and home are under the same ownership.
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.
Obtain a form from the Assessor’s office called a “Reversal of Declaration of Manufactured Home to Real 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 (DMV) to obtain a receipt of title. The new title is issued by the Idaho Transportation Department in Boise.
The owner must first prepay the current year’s property taxes on the manufactured home. Generally, the company contracted to move the home will not hook onto the home for transportation unless the owner provides the receipt from the Treasurer’s Office showing that the taxes are prepaid.
If the manufactured home is your primary residence, be sure to apply for the Homeowner’s Exemption.
THE TITLE IS THE LEGAL OWNERSHIP DOCUMENT. Obtain a form from the Assessor’s Office to pre-pay the property taxes on the home. The current titled owner must sign their name in the “sellers” section of the title before handing it over to the new owner. The new owner takes the Treasurer’s prepaid tax receipt along with the title to the Department of Motor Vehicles (DMV) to have the title changed into their name.