2023 Property Tax Reduction Applications will be available Mid to Late January of 2023
In addition to assessing value to property, the Assessor also manages exemptions from property taxes. Here you will find more information on the various exemptions. Each type of exemption has it’s own unique application process – none are automatic. If after reading this information, you have more questions or would like to request an application, feel free to contact us at email@example.com
Idaho has a homeowner’s exemption for owner-occupied homes and manufactured homes that are primary dwellings. The exemption includes the value of your home and up to one acre of land. This exempts 50% or $125,000 whichever is less of your assessed value. Taxes are computed on the remaining value.
To qualify for a homeowners exemption, it is necessary to own and occupy the home as your primary residence. See Idaho Code 63-602G The application may be filed any time after you purchase, move in and make the home your primary residence.
Once you qualify for this exemption, you do not have to re-apply unless you move or record a new deed. Sometimes a new deed is recorded during a refinance and inadvertent changes to your name may happen. Always check on the status of your homeowner’s exemption after refinancing or if there is a change in your personal information (such as a name change). The assessment notice will indicate if there is a homeowner’s exemption on a property.
If your home is newly constructed and no one has ever lived in the home prior, you must apply for the homeowner’s exemption within 30 days of being notified by the Assessor that the home has been appraised. Otherwise, you may apply for the homeowners exemption for the following year.
If you place your home in a Trust or LLC, you may need to reapply for a homeowners exemption. It is also necessary to provide the Assessor’s Office with documentation stating who is in control of the Trust of LLC per Idaho Code 63-703(4).
The Property Tax Reduction program (known as the Circuit Breaker) reduces property taxes for qualified applicants. The amount of reduction is based on the total household income for the previous calendar year. If you qualify, the property taxes on your primary home and up to one acre of land may be reduced by as much as $1,500.00.
The property tax reduction can only be applied for between January 1st and April 15th. To receive this benefit, you must apply and qualify each year. It is not renewed automatically.
You may qualify for a property tax reduction if you meet the following requirements.
When completing the application, it is required to report all household income received in the prior year by you and your spouse (even if you are legally separated).
Types of income that must be included:
Types of expenditures that may be deducted from your income:
First time applicants need to present the following documentation to the Deputy Assessor at the time of application.
All applicants that file an income tax return need to provide the following:
All applicants that don’t file an income tax return need to provide the following:
Valley County Contact:
Fax: (208) 382-7187
The agricultural program, also known as the ag exemption, reduces the taxable value of agricultural land.
Idaho Code 63-604, describes agricultural land as: land actively devoted to agriculture and a part of a bona fide profit-making agricultural venture. The land is further described as follows.
Valley County Contact:
Fax: (208) 382-7187
Forest landowners with at least five acres but less than 5,000 acres may qualify for the timber exemption as defined in Idaho Code 63-1701. The property owner has a choice between two tax systems; a Productivity Tax system or a Bare Land and Yield Tax. These two tax systems provide Idaho’s 12,200 owners of small woodlands with property tax options which recognize their diverse ownership goals. The Assessor’s office can provide you with the necessary paperwork to designate your land as timberland.
When filling out the designation form, remember that:
(1) A forest land management plan is required, and
(2) The designation form (FT-101) must be signed by all the owners of the property.
Religious, nonprofit, fraternal and other organizations can apply for exemption from property taxation by requesting an application at firstname.lastname@example.org. To see if your organization may apply, examine chapter 6 of title 63 in Idaho Code.
Please complete all portions of the application as fully as possible and include any supporting documentation. This application along with all pertinent documents must be returned by April 15th of the year you wish to receive the exemption. If more information is required to make a decision, you may be asked to appear in a hearing before the Board of Equalization.
Exemptions will not be granted on future building sites (speculative land) or area leased to a non-qualifying entity.
Exemptions are granted for only one year at a time. After an exemption is first granted, a declaration is mailed yearly. Failure to complete and return this declaration by the deadline will result in the removal of the exemption.