TITLE 63

REVENUE AND TAXATION

CHAPTER 7

PROPERTY TAX RELIEF

63-705.  Publication of changes in income limitations and property tax or occupancy tax reduction amounts. (1) The state tax commission shall publish adjustments to the income limitations, which shall be the greater of:

(a)  An individual’s income as defined in section 63-701, Idaho Code, of not more than thirty-seven thousand dollars ($37,000) per household for tax year 2023 and each tax year thereafter; or

(b)  One hundred eighty-five percent (185%) of the federal poverty guidelines for a household of two (2) for tax year 2021 and each tax year thereafter.

(2)  On and after January 1, 2023, if the current year’s assessed value of the home owned by the individual, according to the current year’s assessment notice, exceeds the greater of four hundred thousand dollars ($400,000) or two hundred percent (200%) of the median assessed valuation for all homes in the county receiving the homestead exemption pursuant to section 63-602G, Idaho Code, then the individual will instead be referred to the property tax deferral program set forth in sections 63-712 through 63-721, Idaho Code. Using the current year’s assessed values, each county shall report the median assessed value of all properties receiving the homestead exemption in such county as of that date to the state tax commission no later than the first Monday in June. Provided, however, the provisions of this paragraph do not apply to a veteran with either a service-connected disability of one hundred percent (100%) or a disability rating based on individual unemployability rating that is compensated at the one hundred percent (100%) disability rate, as certified by the United States department of veterans affairs.

(3)  The lowest income limitation shall allow a maximum reduction of one thousand five hundred dollars ($1,500) in tax year 2021 and thereafter or actual property taxes or occupancy taxes, as applicable, whichever is less. Each income limitation and reduction amount shall be prorated based on the basic maximum reduction, in practicable increments, so that the highest income limitation will provide for a reduction of two hundred fifty dollars ($250) or actual property taxes, whichever is less.

(4)  The state tax commission shall publish the adjustments required by this section each and every year the secretary of health and human services announces cost-of-living modifications, pursuant to 42 U.S.C. 415(i). The adjustments shall be published no later than October 1 of each such year and shall be effective for claims filed in and for the following property tax year.

(5)  The publication of adjustments under this section shall be exempt from the provisions of chapter 52, title 67, Idaho Code, but shall be provided to each county and to members of the public upon request and without charge.

History:

[63-705, added 1996, ch. 98, sec. 8, p. 365; am. 1997, ch. 117, sec. 27, p. 327; am. 1998, ch. 102, sec. 2, p. 351; am. 2006, ch. 350, sec. 1, p. 1065; am. 2019, ch. 31, sec. 5, p. 89; am. 2021, ch. 360, sec. 4, p. 1116; am. 2022, ch. 230, sec. 1, p. 751; am. 2023, ch. 200, sec. 10, p. 546.]