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HOUSE BILL NO. 420

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Bill Status

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H0420...............................................by REVENUE AND TAXATION
PROPERTY TAX - Adds to existing law to provide a moratorium on the ratio
study to be performed by the State Tax Commission on taxes imposed on
property shown on the 2006 tax roll only.
                                                                        
01/19    House intro - 1st rdg - to printing
01/20    Rpt prt - to Rev/Tax

Bill Text

                                                                        
                                                                        
  ]]]]              LEGISLATURE OF THE STATE OF IDAHO             ]]]]
 Fifty-eighth Legislature                   Second Regular Session - 2006
                                                                        
                                                                        
                              IN THE HOUSE OF REPRESENTATIVES
                                                                        
                                     HOUSE BILL NO. 420
                                                                        
                             BY REVENUE AND TAXATION COMMITTEE
                                                                        
  1                                        AN ACT
  2    RELATING TO THE ANNUAL RATIO STUDY ON PROPERTY TAXES; PROVIDING  A  MORATORIUM
  3        ON THE RATIO STUDY REQUIRED TO BE PERFORMED BY THE STATE TAX COMMISSION BY
  4        SECTION 63-315, IDAHO CODE, ON TAXES IMPOSED ON PROPERTY SHOWN ON THE 2006
  5        TAX ROLL ONLY; AND DECLARING AN EMERGENCY.
                                                                        
  6    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
  7        SECTION  1.  The  provisions  of Section 63-315, Idaho Code, requiring the
  8    State Tax Commission to annually ascertain the ratio between the market  value
  9    for  assessment  purposes  of real property and the assessed valuation of real
 10    property in each county and from the ratio to ascertain the adjusted value  of
 11    all property in each county, shall not apply to values established on the 2006
 12    tax  rolls  only. There shall instead be a moratorium upon the ratio study for
 13    2006 values only, and the provisions of Section 63-315, Idaho Code,  shall  be
 14    inoperative  except  that  the  executive  officer of the State Tax Commission
 15    shall provide, on or before the first Monday of April of each year, the infor-
 16    mation required to be provided to the Department of Education  by  the  provi-
 17    sions of Section 63-315, Idaho Code.
                                                                        
 18        SECTION  2.  An  emergency  existing  therefor,  which emergency is hereby
 19    declared to exist, this act shall be in full force and effect on and after its
 20    passage and approval.

Statement of Purpose / Fiscal Impact

                       STATEMENT OF PURPOSE
                             RS 15501

The purpose of this legislation is to put a moratorium on the
ratio study for 2006 values.  The net effect is that property
taxes will not increase for one year.

  
                           FISCAL NOTE

No fiscal impact to the General Fund.






Contact
Name: Rep. Dolores Crow 
Phone: 332-1000
Rep. Jim Clark
Rep. Mike Moyle


STATEMENT OF PURPOSE/FISCAL NOTE                         H 420