TITLE 63

REVENUE AND TAXATION

CHAPTER 7

PROPERTY TAX RELIEF

63-713.  Definitions. In addition to the definitions in section 63-701, Idaho Code, the following definitions apply to sections 63-712 through 63-721, Idaho Code.

(1)  "Qualified claimant" means:

(a)  An individual who is a claimant who applies for and properly receives property tax relief under the provisions of sections 63-701 through 63-710, Idaho Code; or

(b)  An individual who meets the definition of "claimant" under section 63-701, Idaho Code, and is otherwise eligible to file a claim under sections 63-701 through 63-710, Idaho Code, except by reason of exceeding the income limitations of section 63-705, Idaho Code, may nevertheless be a qualified claimant, provided his household income does not exceed fifty thousand dollars ($50,000) for the tax year 2021, which amount shall be increased by the annual cost-of-living percentage modification as determined by the secretary of health and human services pursuant to 42 U.S.C. 415(i) beginning in 2022.

(2)  "Qualified property" means property owned by a qualified claimant, provided that the property is the "homestead," as defined in section 63-701, Idaho Code, of the qualified claimant.

(3)  "Sufficient equity" means that:

(a)  The property is not security for a reverse mortgage, a home equity loan or line of credit, or any similar loan or encumbrance; and

(b)  The amount of all encumbrances of any nature on the property that are superior to any liens for deferral, plus the amount of property tax and interest previously deferred on the same property, does not exceed eighty percent (80%) of the current year’s market value for assessment purposes.

History:

[63-713, added 2006, ch. 234, sec. 1, p. 694; am. 2008, ch. 214, sec. 1, p. 670; am. 2013, ch. 22, sec. 1, p. 42; am. 2021, ch. 238, sec. 1, p. 728.]