BOISE, Idaho — Idaho Gov. Brad Little has signed into law a property tax reduction for higher-valued houses to keep older, low-income Idaho residents in their homes.
The Republican governor last week signed the measure that increases the maximum value of a home that qualifies for the property tax reduction program, called the circuit breaker. The measure adjusts the maximum value of qualifying residential homes to 150% of the median assessed value in a county.
The bill also allows homeowners to use a $300,000 valuation, which in some counties could cover more homeowners. Backers said older homeowners with limited incomes need the tax break or they’ll be forced from their homes.