Janna Rankin Scharf, PMN, SFR, GRI, CLHMS - Coeur d'Alene Idaho Homes For Sale 

Kootenai County IdahoProperty owners in Kootenai County, Idaho are looking at a reduction in the amount of the exemption they will receive in 2012 on their primary residence of $8,066.

The Idaho Tax Commission has calculated the 2012 maximum exemption at $83,974, down from last year's maximum of $92,040.  The exemption on taxable value applies to 50% of the home's assessed value, and up to one acre of land. 

Under state law, the Tax Commission adjusts the exemption amount each years based on the Idaho Housing Price Index.

The lowering of the maximum exemption will increase net taxable value for homeowners whose property valuations exceed the maximum.

Click here to read the story in the Coeur d'Alene Press.

Janna SignJanna Rankin Scharf  provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit Janna.ServingNorthIdaho.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

No matter how grand or modest your real estate dreams may be, you can turn to me in confidence.  Give me a call today and let me know what I can do to be of service to you!

Janna Rankin Scharf AB, GRI, CSP, CNS, CLHMS  208.651.9700

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5 Comments on Kootenai County's Homeowner Property Tax Exemption Reduced by $8,066

MAY
30
2012
1,086,599 Points 75 Featured Posts Outside Blog Called Shot Master

There will be tax changes everywhere with the change in the landscape...and governments looking for funding...good info !

4:10am • #1
JUN
05
2012
137,208 Points 1 Featured Post Outside Blog

Thank you for sharing your blog; we need Real estate Professionals to share their comments and information regarding their markets and experiences. Thanks again from beautiful Colorado

2:10pm • #2
AUG
17

I have a home in Ca., 10 acres in Worley ID, I just put an offer in on a home in Rathdrum ID and found that since this home would not be my primary home that I do not meet the property tax excemption program, the difference goes from $1200.00 per year to $3700.00 a year, how can this be possible that it jumps 3 times the amount that it should be on a home that I would like to buy at $130,000.00.

I am purchaceing this property to move in a few years and in the mean time come up and fix the place up about 3 - 4 months out of the year so that when I do move it is ready for me and my wife.

To qualify for this it is stated on the assessors site these qualification:

  • Vehicle is licensed in Idaho (if you own a vehicle).
  • Registered Idaho voter (if you vote)
  • If you file income tax, at the appropriate time the property owner would file a full year Idaho resident income tax return.
  • You reside in Idaho for a majority of the year
  • If the property is in a trust, bring the entire trust with you for us to review and determine eligibility.
  • A valid Idaho drivers license (if you drive)

Know if I have a ID dirvers licence, Reg. voter in ID, file part of my income taxes in ID from my internet sales and have a living trust, can I be eligable for this exception or is there another way that I would not have to pay such high tax rate.

 

Andrew

Andrew
8:15am • #3

I have a home in Ca., 10 acres in Worley ID, I just put an offer in on a home in Rathdrum ID and found that since this home would not be my primary home that I do not meet the property tax excemption program, the difference goes from $1200.00 per year to $3700.00 a year, how can this be possible that it jumps 3 times the amount that it should be on a home that I would like to buy at $130,000.00.

I am purchaceing this property to move in a few years and in the mean time come up and fix the place up about 3 - 4 months out of the year so that when I do move it is ready for me and my wife.

To qualify for this it is stated on the assessors site these qualification:

  • Vehicle is licensed in Idaho (if you own a vehicle).
  • Registered Idaho voter (if you vote)
  • If you file income tax, at the appropriate time the property owner would file a full year Idaho resident income tax return.
  • You reside in Idaho for a majority of the year
  • If the property is in a trust, bring the entire trust with you for us to review and determine eligibility.
  • A valid Idaho drivers license (if you drive)

Know if I have a ID dirvers licence, Reg. voter in ID, file part of my income taxes in ID from my internet sales and have a living trust, can I be eligable for this exception or is there another way that I would not have to pay such high tax rate.

 

Andrew

Andrew
8:16am • #4

I have a home in Ca., 10 acres in Worley ID, I just put an offer in on a home in Rathdrum ID and found that since this home would not be my primary home that I do not meet the property tax excemption program, the difference goes from $1200.00 per year to $3700.00 a year, how can this be possible that it jumps 3 times the amount that it should be on a home that I would like to buy at $130,000.00.

I am purchaceing this property to move in a few years and in the mean time come up and fix the place up about 3 - 4 months out of the year so that when I do move it is ready for me and my wife.

To qualify for this it is stated on the assessors site these qualification:

  • Vehicle is licensed in Idaho (if you own a vehicle).
  • Registered Idaho voter (if you vote)
  • If you file income tax, at the appropriate time the property owner would file a full year Idaho resident income tax return.
  • You reside in Idaho for a majority of the year
  • If the property is in a trust, bring the entire trust with you for us to review and determine eligibility.
  • A valid Idaho drivers license (if you drive)

Know if I have a ID dirvers licence, Reg. voter in ID, file part of my income taxes in ID from my internet sales and have a living trust, can I be eligable for this exception or is there another way that I would not have to pay such high tax rate.

 

Andrew

Andrew
8:17am • #5


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Janna Rankin  Scharf (Keller Williams Realty Coeur d'Alene) Ambassador_large

Janna Rankin Scharf

Coeur d'Alene, ID

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Address: 1450 Northwest Blvd. Ste 301, Coeur d'Alene, ID, 83814

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