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Idaho governor signs property tax legislation

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Posted at 11:20 AM, May 12, 2021
and last updated 2021-05-12 13:20:56-04

BOISE, Idaho — Idaho Gov. Brad Little has signed a property tax relief bill that opponents say is deeply flawed but backers say is better than nothing.

The Republican governor on Wednesday approved the legislation rushed through by lawmakers last week with little public participation. The new law takes effect immediately with significant portions retroactive to Jan. 1.

The measure raises the homeowner’s exemption from $100,000 to $125,000. It also raises from $1,320 to $1,500 a property tax reduction for qualifying low-income seniors, called a circuit breaker.

Businesses get a property tax exemption boost from $100,000 to $250,000.

Opponents contend the bill will cut into basic services provided by local government entities by limiting tax revenue from new construction.

You can read Gov. Little's full transmittal letter on the bill below: