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H0477...............................................by REVENUE AND TAXATION PROPERTY TAX - Repeals, adds to and amends existing law to delete the method of assessment for certain manufactured homes under a dealer's plate or as a sheep and cow camp; to exempt from taxation certain manufactured homes used under a dealer's plate or as a sheep and cow camp; and to provide that the State Tax Commission shall promulgate rules specifying procedures to establish average crop prices and capitalization rates and for the publication of crop prices and of the discount rate to be used to determine the capitalization rate used in calculating the exemption of the speculative portion of the value of agricultural land. 01/19 House intro - 1st rdg - to printing 01/20 Rpt prt - to Rev/Tax 02/03 Rpt out - rec d/p - to 2nd rdg 02/04 2nd rdg - to 3rd rdg 02/09 3rd rdg - PASSED - 68-0-2 AYES -- Andersen, Barraclough, Barrett, Bauer, Bayer, Bedke, Bell, Black, Block, Boe, Bolz, Bradford, Campbell, Cannon, Clark, Collins, Crow, Cuddy, Deal, Denney, Douglas, Eberle, Edmunson, Ellsworth, Eskridge, Field(18), Field(23), Gagner, Garrett, Harwood, Henbest, Jaquet, Jones, Kellogg, Kulczyk, Lake, Langford, Martinez, McKague, Meyer, Miller, Mitchell, Moyle, Naccarato, Nielsen, Pasley-Stuart, Raybould, Ridinger, Ring, Ringo, Roberts, Robison, Rydalch, Sali, Sayler, Schaefer, Shepherd, Shirley, Skippen, Smith(30), Smith(24), Smylie, Snodgrass, Stevenson, Trail, Wills, Wood, Mr. Speaker NAYS -- None Absent and excused -- Langhorst, McGeachin Floor Sponsor - Wood Title apvd - to Senate 02/10 Senate intro - 1st rdg - to Loc Gov 02/12 Rpt out - rec d/p - to 2nd rdg 02/13 2nd rdg - to 3rd rdg 03/02 3rd rdg - PASSED - 28-2-5 AYES -- Andreason, Bailey, Brandt, Burtenshaw, Calabretta, Cameron, Compton(Duncan), Darrington, Davis, Gannon, Geddes, Goedde, Hill, Ingram, Keough, Little, Lodge, Malepeai, Marley, McKenzie, Noble(Anderson), Noh, Pearce, Schroeder, Stennett, Sweet, Werk, Williams NAYS -- Burkett, Kennedy Absent and excused -- Bunderson, McWilliams, Richardson, Sorensen, Stegner Floor Sponsor - Compton(Duncan) Title apvd - to House 03/03 To enrol 03/04 Rpt enrol - Sp signed 03/05 Pres signed 03/08 To Governor 03/10 Governor signed Session Law Chapter 27 Effective: 07/01/04
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]] Fifty-seventh Legislature Second Regular Session - 2004 IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 477 BY REVENUE AND TAXATION COMMITTEE 1 AN ACT 2 RELATING TO THE PROPERTY TAX; REPEALING SECTION 63-602DD, IDAHO CODE, RELATING 3 TO TAXES ON CERTAIN PROPERTY DEFERRED FOR A TIME CERTAIN; AMENDING SECTION 4 63-303, IDAHO CODE, TO DELETE THE METHOD OF ASSESSMENT FOR CERTAIN MANU- 5 FACTURED HOMES UNDER A DEALER'S PLATE OR AS A SHEEP AND COW CAMP; AMENDING 6 CHAPTER 6, TITLE 63, IDAHO CODE, BY THE ADDITION OF A NEW SECTION 7 63-602DD, IDAHO CODE, TO EXEMPT FROM TAXATION CERTAIN MANUFACTURED HOMES 8 USED UNDER A DEALER'S PLATE OR AS A SHEEP AND COW CAMP; AND AMENDING SEC- 9 TION 63-602K, IDAHO CODE, TO PROVIDE THAT THE STATE TAX COMMISSION SHALL 10 PROMULGATE RULES SPECIFYING PROCEDURES BY WHICH IT SHALL ESTABLISH ECO- 11 NOMIC RENT, AVERAGE CROP RENTAL AND CAPITALIZATION RATES, AND FOR THE PUB- 12 LICATION OF CROP PRICES AND THE DISCOUNT RATE TO BE USED TO DETERMINE THE 13 CAPITALIZATION RATE TO BE USED IN CALCULATING THE EXEMPTION OF THE SPECU- 14 LATIVE PORTION OF THE VALUE OF AGRICULTURAL LAND. 15 Be It Enacted by the Legislature of the State of Idaho: 16 SECTION 1. That Section 63-602DD, Idaho Code, be, and the same is hereby 17 repealed. 18 SECTION 2. That Section 63-303, Idaho Code, be, and the same is hereby 19 amended to read as follows: 20 63-303. ASSESSMENT OF MANUFACTURED HOMES. Manufactured homes shall be 21 assessed as other residential housing and such assessments shall be entered on 22 the property roll. except that the following manufactured homes are specifi-23 cally exempt from the provisions of this section:24 (1) Manufactured homes eligible to be used under a dealer's license25 plate;26 (2) Manufactured homes designated as sheep and cow camps.27 SECTION 3. That Chapter 6, Title 63, Idaho Code, be, and the same is 28 hereby amended by the addition thereto of a NEW SECTION, to be known and des- 29 ignated as Section 63-602DD, Idaho Code, and to read as follows: 30 63-602DD. MANUFACTURED HOMES USED UNDER A DEALER'S PLATE OR AS A SHEEP 31 AND COW CAMP. The following property is exempt from taxation: Manufactured 32 homes that are: 33 (1) Manufactured homes eligible to be used under a dealer's license 34 plate; or 35 (2) Manufactured homes designated as sheep and cow camps. 36 SECTION 4. That Section 63-602K, Idaho Code, be, and the same is hereby 37 amended to read as follows: 38 63-602K. PROPERTY EXEMPT FROM TAXATION -- SPECULATIVE PORTION OF VALUE OF 2 1 AGRICULTURAL LAND. (1) The speculative portion of the value of land devoted to 2 agriculture is exempt from taxation. 3 (2) "Land devoted to agriculture" shall mean that property defined by 4 section 63-604, Idaho Code. 5 (3) "Speculative portion" shall mean that portion of the value of agri- 6 cultural land which represents the excess over the actual use value of such 7 land established by comparable sales data compared to value established by 8 capitalization of economic rent or long-term average crop rental at a capital- 9 ization rate which shall be the rate of interest charged by the Spokane office 10 of the farm credit system averaged over the immediate past five (5) years plus 11 a component for the local tax rate. 12 (4) The state tax commission shall adopt rules implementing this section 13 which shall provide the procedure by which it shall establish economic rent, 14 average crop rental and capitalization rates and for the publication of crop 15 prices and the discount rate to be used to determine the capitalization rate.
STATEMENT OF PURPOSE RS 13450 This bill makes technical amendments and updates to the property tax statutes. Section 1 repeals section 63-602DD, Idaho Code, relating to a deferral of property taxes from 1997 to 1999 for qualified non- profit hospitals and medical centers. The section is no longer operative. Sections 2 and 3. Provisions relating to exempting manufactured homes used under a dealer's plate or as a sheep or cow camp are moved from section 63-303, Idaho Code, (relating to assessments) to a new section 63-602DD, Idaho Code, (relating to exemptions). Section 4 amends section 63-602K, Idaho Code, to require the State Tax Commission to promulgate rules specifying procedures by which the Commission establishes and publishes average crop prices, capitalization and discount rates. These amounts are used to determine the exemption of the speculative portion of the value of agricultural land. FISCAL IMPACT No fiscal effect. CONTACT Name: Dan John / Ted Spangler Agency: Tax Commission Phone: 334-7530 Statement of Purpose/Fiscal Impact H 477