1998 Legislation
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HOUSE BILL NO. 619 – Property tax, circuit brkr, limits

HOUSE BILL NO. 619

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Daily Data Tracking History



H0619...............................................by REVENUE AND TAXATION
PROPERTY TAX - CIRCUIT BREAKER RELIEF - Amends existing law to provide that
the upper limit set for qualification for property tax relief through the
circuit breaker benefit shall be increased by $1,500 during tax years 1999,
2000, 2001 and 2002, to provide that the amount of the exemption for
claimants qualifying for relief at the increased limit shall be $150; and
to provide that, for claimants qualifying for relief at the increased
limit, inflation adjustments shall be suspended during tax years 1999,
2000, 2001 and 2002 and shall resume at tax year 2003.

02/04    House intro - 1st rdg - to printing
02/05    Rpt prt - to Rev/Tax

Bill Text


H0619


                                                                        
 ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
Fifty-fourth Legislature                 Second Regular Session - 1998
                                                                        

                             IN THE HOUSE OF REPRESENTATIVES

                                    HOUSE BILL NO. 619

                            BY REVENUE AND TAXATION COMMITTEE

 1                                        AN ACT
 2    RELATING TO PROPERTY TAX RELIEF THROUGH THE CIRCUIT BREAKER BENEFIT;  AMENDING
 3        SECTION 63-704, IDAHO CODE, TO PROVIDE THAT THE UPPER LIMIT SET FOR QUALI-
 4        FICATION FOR RELIEF THROUGH THE CIRCUIT BREAKER BENEFIT SHALL BE INCREASED
 5        BY ONE THOUSAND FIVE HUNDRED DOLLARS DURING TAX YEARS 1999, 2000, 2001 AND
 6        2002, TO PROVIDE THAT THE AMOUNT OF THE EXEMPTION FOR CLAIMANTS QUALIFYING
 7        FOR  RELIEF AT THE INCREASED LIMIT SHALL BE ONE HUNDRED FIFTY DOLLARS, AND
 8        TO PROVIDE THAT FOR CLAIMANTS QUALIFYING AT THE INCREASED LIMIT, INFLATION
 9        ADJUSTMENTS SHALL BE SUSPENDED DURING TAX YEARS 1999, 2000, 2001 AND  2002
10        AND SHALL RESUME AT TAX YEAR 2003.

11    Be It Enacted by the Legislature of the State of Idaho:

12        SECTION  1.  That  Section  63-704, Idaho Code, be, and the same is hereby
13    amended to read as follows:

14        63-704.  AMOUNT OF PROPERTY TAX REDUCTION. (1)  Each  claimant  qualifying
15    for  and  applying  for  a reduction in property taxes under the provisions of
16    sections 63-701 through 63-710, Idaho Code, shall be allowed  a  reduction  in
17    property taxes on his homestead for the current year only, in the amounts pro-
18    vided by subsection (4) of this section.
19        (2)  All  property taxes continue to be the responsibility of the individ-
20    ual taxpayer, all property taxes continue to be perpetual  liens  against  the
21    property  against  which assessed, and all property taxes may be collected and
22    enforced in the usual manner, if the taxpayer does not  receive  any  property
23    tax reduction as provided under sections 63-701 through 63-710, Idaho Code, or
24    if  the taxpayer receives less property tax reduction than the whole amount of
25    property taxes he is charged with.
26        (3)  The claimant property owner's property tax reduction shall  be  based
27    upon the current year's assessed value and the current year's levy.
28        (4)  Property  tax  reductions  qualified  under  sections  63-701 through
29    63-710, Idaho Code, shall be allowed as set out in section 2, chapter 59, laws
30    of 1992, and adjusted for cost-of-living fluctuations as provided  in  section
31    63-705, Idaho Code.  Provided, that the upper limit set for qualification
32    for  relief in section 2, chapter 59, laws of 1992,  shall be increased by one
33    thousand five hundred dollars ($1,500) during tax years 1999, 2000,  2001  and
34    2002.   The amount of the exemption for claimants qualifying for relief at the
35    increased limit shall be one hundred  fifty  dollars  ($150).   For  claimants
36    qualifying  at  the  increased limit, inflation adjustments shall be suspended
37    during tax years 1999, 2000, 2001 and 2002 and shall resume at tax year  2003.
38    

Statement of Purpose / Fiscal Impact


                                       STATEMENT OF PURPOSE

                                              RS07641

This bill would increase the number of people over age 65 or disabled eligible for property tax relief 
through the "circuit breaker".  Presently there is no relief for households with income over $18,920. 
This bill would, over four years, raise the qualifying level to $24 920 and add approximately 5.000 to 
the number of households receiving circuit breaker tax relief.  The amount of relief for those added 
would be $150. Presently the threshold amount is adjusted for inflation.  If inflation was 3 per cent, 
the threshold amount would rise about 3 per cent a year over the next four years.  With this bill the 
threshold would rise by $1,500 for four years, and then the inflationary adjustment would resume. The 
qualifying level would rise about $3,600 more over the next four years than with existing law.

Qualifying income with RS 07641 With existing law (and 3% inflation factor)

2002  $24,920  21,293
2001  $23,420  20,673
2000  $21,920  20,071
1999  $20,420  19,487
1998  $18,920  18,920
 
                                          FISCAL IMPACT

This bill would increase the amount of sales tax revenue provided to local government to replace revenue 
foregone for the circuit breaker by about $200,000 a year for four years.  There would be a corresponding 
reduction in state general fund revenue.

Contact: Rep. Ken Robison
(208) 332-1000

Statement of purpose/fiscal note                                               H 619