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H0189...............................................by REVENUE AND TAXATION PROPERTY TAX - Amends existing law to provide that a corporation may be granted the 50/50 homeowner's exemption from property taxation under certain circumstances. 02/08 House intro - 1st rdg - to printing 02/09 Rpt prt - to Rev/Tax
H0189|||| LEGISLATURE OF THE STATE OF IDAHO |||| Fifty-fifth Legislature First Regular Session - 1999IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 189 BY REVENUE AND TAXATION COMMITTEE 1 AN ACT 2 RELATING TO RESIDENTIAL IMPROVEMENTS EXEMPT FROM PROPERTY TAXATION; AMENDING 3 SECTION 63-602G, IDAHO CODE, TO PROVIDE THAT A CORPORATION MAY BE GRANTED 4 THE "FIFTY-FIFTY" HOMEOWNER'S EXEMPTION UNDER CERTAIN CIRCUMSTANCES; 5 DECLARING AN EMERGENCY AND PROVIDING RETROACTIVE APPLICATION. 6 Be It Enacted by the Legislature of the State of Idaho: 7 SECTION 1. That Section 63-602G, Idaho Code, be, and the same is hereby 8 amended to read as follows: 9 63-602G. PROPERTY EXEMPT FROM TAXATION -- RESIDENTIAL IMPROVEMENTS. (1) 10 During the tax year 1983 and each year thereafter, the first fifty thousand 11 dollars ($50,000) of the market value for assessment purposes of residential 12 improvements, or fifty percent (50%) of the market value for assessment pur- 13 poses of residential improvements, whichever is the lesser, shall be exempt 14 from property taxation. 15 (2) The exemption allowed by this section may be granted only if: 16 (a) The residential improvements are owner-occupied and used as the pri- 17 mary dwelling place of the owner as of January 1. The residential improve- 18 ments may consist of part of a multidwelling or multipurpose building and 19 shall include all of such dwelling or building except any portion used 20 exclusively for anything other than the primary dwelling of the owner. The 21 presence of an office in an owner-occupied residential property, which 22 office is used for multiple purposes, including business and personal use, 23 shall not prevent the owner from claiming the exemption provided in this 24 section; and 25 (b) The tax commission has certified to the board of county commissioners 26 that all properties in the county which are subject to appraisal by the 27 county assessor have, in fact, been appraised uniformly so as to secure a 28 just valuation for all property within the county; and 29 (c) The owner has certified to the county assessor by April 15 that: 30 (i) He is making application for the exemption allowed by this sec- 31 tion; 32 (ii) That the residential improvements are his primary dwelling 33 place; and 34 (iii) That he has not made application in any other county for the 35 exemption, and has not made application for the exemption on any 36 other residential improvements in the county. 37 (d) For the purpose of this section, the definition of owner shall be the 38 same definition set forth in section 63-701(8), Idaho Code. 39 When an "owner" is any person who as grantor created a revocable 40 trust and named himself or herself as beneficiary of that trust, he or she 41 may provide proof of the revocable trust with an affidavit stating: (i) 42 the name of the grantor; (ii) a statement that the grantor is the benefi- 43 ciary of the trust; (iii) the trust is revocable during the grantor's 2 1 lifetime; and (iv) the grantor is the owner-occupier of the residential 2 property and uses the property as the primary dwelling place of the owner 3 as of January 1. 4 The affidavit shall include the attaching of the copies of those por- 5 tions of the trust which set forth the grantor, the grantor as benefi- 6 ciary, the revocable character of the trust and the signature page of the 7 trust. 8 An "owner" may be a corporation if the corporation owns the 9 residential improvements, a director of the corporation lives in the res- 10 idential improvements as his primary dwelling place, the corporation via 11 the director makes application for the exemption, and the corporation has 12 not been previously granted the exemption elsewhere in the state. 13 (e) Any owner may request in writing the return of all copies of any 14 revocable trust created by the owner that are held by a county assessor, 15 and the copies shall be returned by the county assessor upon submission of 16 the affidavit set forth in paragraph (d) of this subsection in proper 17 form. 18 (f) For the purpose of this section, the definition of "primary dwelling 19 place" shall be the same definition set forth in section 63-701(9), Idaho 20 Code. 21 (g) For the purpose of this section, the definition of "occupied" shall 22 be the same definition set forth in section 63-701(7), Idaho Code. 23 (3) An owner need only make application for the exemption described in 24 subsection (1) of this section once, as long as all of the following condi- 25 tions are met: 26 (a) The owner has received the exemption during the previous year as a 27 result of his making a valid application as defined in subsection (2)(c) 28 of this section. 29 (b) The owner still occupies the same residential improvements for which 30 he made application. 31 (c) The residential improvements described in subsection (3)(b) of this 32 section are owner-occupied and used as the primary dwelling place of the 33 owner as of January 1. 34 (4) The exemption allowed by this section must be taken before the reduc- 35 tion in taxes provided by sections 63-701 through 63-710, Idaho Code, is 36 applied. 37 (5) The legislature declares that this exemption is necessary and just. 38 (6) Residential improvements having previously qualified for exemption 39 under this section in the preceding year, shall not lose such qualification 40 due to the owner's absence in the current year by reason of active military 41 service in a designated combat zone, as defined in section 112 of the internal 42 revenue code. If an owner fails to timely apply for exemption as required in 43 this section solely by reason of active duty in a designated combat zone, as 44 defined in section 112 of the internal revenue code, and such improvements 45 would have otherwise qualified under this section, then the board of county 46 commissioners of the county in which the residential improvements are located 47 shall refund property taxes, if previously paid, in an amount equal to the 48 exemption which would otherwise have applied. 49 SECTION 2. An emergency existing therefor, which emergency is hereby 50 declared to exist, this act shall be in full force and effect on and after its 51 passage and approval, and retroactively to January 1, 1999.
STATEMENT OF PURPOSE
RS08889
The purpose of this legislation is to allow the director-owners of
corporations to enjoy the 50/50 homestead exemption if they live in
the homes.
FISCAL NOTE
There should be a minimal impact on property taxes at the local
level.
CONTACT: Representative Jim Stoicheff
208/332-1130
STATEMENT OF PURPOSE/ FISCAL NOTE Bill No. H 189