Eye On Boise

A one-word change...

Reps. Jim Clark, R-Hayden Lake, left, and Dennis Lake, R-Blackfoot, right, watch as the House votes on HB 4, a one-word change in state law to allow for the fact that housing prices go down, as well as up, 1/26/09 (Betsy Russell / The Spokesman-Review)
Reps. Jim Clark, R-Hayden Lake, left, and Dennis Lake, R-Blackfoot, right, watch as the House votes on HB 4, a one-word change in state law to allow for the fact that housing prices go down, as well as up, 1/26/09 (Betsy Russell / The Spokesman-Review)

Here's a sign of the times: Legislation that makes a one-word change in the law regarding annual adjustments in the homeowner's exemption from property tax won unanimous approval in the House today. The reason for the change? As House Tax Chairman Dennis Lake, R-Blackfoot, explained to the House today, "Back in the heady days of 2005, the assumption was made that home values will always go up." So the law tying the amount of the homeowner's exemption to the Idaho Housing Index said that changes will match "the annual increase in the Idaho housing price index." The one-word bill, HB 4, proposed by the state Tax Commission, changes the word "increase" to "change." That way, if values go down, the exemption, too, would go down.




You must be logged in to post comments. Please log in here or click the comment box below for options.

comments powered by Disqus
« Back to Eye On Boise


Eye On Boise

Short takes and breaking news from the Idaho Legislature and the state capital.






Close

Sections


Profile

Close

Contact the Spokesman

Main switchboard:
(509) 459-5000
(800) 338-8801
Newsroom:
(509) 459-5400
(800) 789-0029
Customer service:
(800) 338-8801