2000 Legislation
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SENATE BILL NO. 1493 – Personal property tax, assessment

SENATE BILL NO. 1493

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Daily Data Tracking History



S1493......................................by LOCAL GOVERNMENT AND TAXATION
PERSONAL PROPERTY - TAX - Amends existing law to provide a schedule for
time in use assessment of taxable personal property; and to provide
procedures.
                                                                        
02/21    Senate intro - 1st rdg - to printing
02/22    Rpt prt - to Loc Gov
03/02    Rpt out - to 14th Ord
03/29    Rpt out w/o amen - ret'd to Loc Gov

Bill Text


 S1493
                                                                        
                                                                        
  ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
 Fifty-fifth Legislature                  Second Regular Session - 2000
                                                                        
                                                                        
                                       IN THE SENATE
                                                                        
                                    SENATE BILL NO. 1493
                                                                        
                         BY LOCAL GOVERNMENT AND TAXATION COMMITTEE
                                                                        
  1                                        AN ACT
  2    RELATING TO ASSESSABLE VALUE OF PERSONAL PROPERTY;  AMENDING  SECTION  63-205,
  3        IDAHO  CODE,  TO  PROVIDE A SCHEDULE FOR TIME IN USE ASSESSMENT OF TAXABLE
  4        PERSONAL PROPERTY AND TO PROVIDE PROCEDURES; PROVIDING AN  EFFECTIVE  DATE
  5        AND TO PROVIDE DUTIES TO THE STATE TAX COMMISSION.
                                                                        
  6    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
  7        SECTION  1.  That  Section  63-205, Idaho Code, be, and the same is hereby
  8    amended to read as follows:
                                                                        
  9        63-205.  ASSESSMENT -- MARKET VALUE FOR ASSESSMENT PURPOSES. (1) All real,
 10    personal and operating property subject to property taxation must be  assessed
 11    annually at market value for assessment purposes as of 12:01 a.m. of the first
 12    day  of January in the year in which such property taxes are levied, except as
 13    otherwise provided. Market value for assessment purposes shall  be  determined
 14    according  to  the  requirements of this title or the rules promulgated by the
 15    state tax commission.
 16        (2)  Personal property coming into the state  after  January  1  shall  be
 17    assessed  as  of  the date of entry into the state in accordance with sections
 18    63-311(3) and 63-602Y, Idaho Code.
 19        (3)  Personal property that can be used for its intended  use  or  purpose
 20    for  less  than  the  full  year  shall be assessed according to the following
 21    schedule:
 22        (a)  When the personal property can be used for its intended use  or  pur-
 23        pose  for  three (3) or fewer months during any calendar year, it shall be
 24        assessed at twenty-five percent (25%) of its full market value for assess-
 25        ment purposes;
 26        (b)  When the personal property can be used for more than three (3) months
 27        and  six (6) or fewer months for its intended use or purpose it  shall  be
 28        assessed  at  fifty  percent (50%) of its full market value for assessment
 29        purposes;
 30        (c)  When the personal property can be used for more than  six (6)  months
 31        or    for   nine  (9)  or fewer months for its intended use or purpose, it
 32        shall be assessed at seventy-five percent (75%) of its full market  value;
 33        and
 34        (d)  When  the personal property can be used for more than nine (9) months
 35        for its intended use or purpose, it shall be assessed at its  full  market
 36        value for assessment purposes.
 37        (4)  Decisions of a county assessor or a board of equalization are appeal-
 38    able.
 39        (5)  Any  taxpayer  shall have the right to apply for a time in use exemp-
 40    tion before the county board of equalization.
                                                                        
 41        SECTION 2.  This act shall be in full force and effect on and after  Janu-
 42    ary  1,  2001.  The  Tax  Commission  shall  prepare appropriate schedules and
                                                                        
                                           2
                                                                        
  1    descriptions for the use of taxpayers, County Assessors, Boards  of  Equaliza-
  2    tion  and  the  State Board of Tax Appeals to implement the provisions of this
  3    act.

Statement of Purpose / Fiscal Impact


     
                           
                STATEMENT OF PURPOSE 
                       RS10147 
                           
     This legislation would provide consideration to property taxpayers who pay
     property tax on property that is not used for a full year. This legislation would
     help, to some extent, the recurring problem of school bonds failing because many
     owners of personal property feel it is unfair to be taxed on property that isn't used
     continuously.
     
     
     
     
                           
                     FISCAL NOTE 
     
     Minimal cost to the tax Commission to implement. A tax shift could occur in
     some taxing districts. 
     
     
     
     
     
     
               CONTACT:  Senator Stan Hawkins
               (208) 332-1325 
     
                                                  STATEMENT OF PURPOSE/ FISCAL NOTE                          S 1493