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Three bills were proposed in Idaho to provide residents with a Property Tax Relief 2023. These bills mostly intend to exempt the taxes of homeowners who earn low incomes in the state.
![Property Tax Relief for Houses [Photo: Bungalow]](https://s3.us-west-1.amazonaws.com/southarkansassun.com/2023/03/multifamily-investing-hero-scaled.jpeg)
Property Tax Relief for Houses [Photo: Bungalow]
According to Corbin, the bills would also increase the eligibility of low-income homeowners from tax exemption. This means that the income eligibility would increase from $31,900 to $37,000. Eligible house properties will also have an increase in their assessed value of whichever is greater than up to $400,000 and 200% of the average assessed valuation. To date, the assessed value is limited at $300,000 or 150% of the average assessed value.
In addition, elections in the month of March will also be eliminated for school districts. However, Representative Ned Burns thinks that this part of the proposal is concerning because it may affect the teachers’ salaries. This is because the month of March is crucial for school districts when negotiating teacher contracts.
READ ALSO: Nebraska Governor, State Senators Disclose Property Tax Relief Proposals
Opposition on the Property Tax Relief 2023
According to Guido, Monks stated that the proposal for the Property Tax Relief 2023 has been at least 4 years in the making. The proposal was made possible after negotiations with Senators Scott Grow and Doug Ricks and House Speaker Mike Moyle. Monks also stated that the bill would not switch the tax burden to anyone. However, Assistant House Minority Leader Representative Lauren Necochea argued that the bill does not discuss the changes that are already happening to homeowners from commercial properties because it does not affect the homeowner’s exemption.
