The Idaho State Tax Commission has announced that the maximum
homeowner's property tax exemption for 2013 will decrease again, from our current $83,974 to $81,000.
In 2011, the maximum exemption was $92,040. In 2010, $101,153. In 2009, $104, 471.
What this means is that Idaho homeowners with property value on their principle residence above $163,000 will pay more property taxes next year. Again. We have seen the maximum exemption decrease every year for at least five years. As a result, our property taxes rise by the corresponding amount each year.
I often hear people asking how it is, when property values have been falling, property taxes continue to rise every year? The reduced maximum homeowner's exemption is one reason. Another is that the taxing entities of cities and counties can, and usually do, raise their levies each year to compensate for the reduction in revenues they expect to receive due to decreased property values.
This is why, while you have seen your property's market value decline significantly, you have seen an increase in the amount you pay in property tax.
What is the Homeowners Exemption?
The Homeowners Exemption is an exemption provided by state law that saves property owners money on their property taxes. The exemption deducts 1/2 of the assessed value of the building and up to one acre of land as the home site. After the exemption is deducted from the assessed value of your home, the remaining value is what is taxed.
Who Qualifies?
A property owner who occupies the home as their primary residence and is an Idaho resident.
How do I qualify?
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You have a valid Idaho drivers license, if you drive.
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Your vehicle is licensed in Idaho, if you own a vehicle.
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You're a registered Idaho voter, if you vote.
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If you file income tax, at the appropriate time you file a full year Idaho resident income tax return.
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You reside in Idaho a majority of the year.
When do I file?
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On new construction the owner must apply within 30 days of purchase.
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On existing homes the deadline for applying is April 15 of the year that you occupied the home.
Where do I file?
The Homeowners Exemption Applications are available, and must be filed in the Assessor's office. The Assessor's Office is located at 451 Government Way on the main floor of the Administration Building, next to the information desk.
Kootenai County Assessor's Office
Administration Building
451 Government Way
Coeur d'Alene, ID 83814
(208) 446-1513
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