Idaho’s homeowner’s exemption from property tax will drop in 2011 to a maximum of $92,040, from the current $101,153. “The drop reflects the recent state of the housing market,” said Alan Dornfest, property tax supervisor for the Idaho State Tax Commission. In 2006, Idaho lawmakers tied the homeowner’s exemption to the Idaho Housing Price Index, which goes up and down, reflecting housing price values in the state. That year, lawmakers raised the exemption to a maximum of $75,000; before that, it had been at a $50,000 maximum since voters put it there by initiative in 1983. You can read the Tax Commission’s full announcement here.
Betsy Z. Russell covers Idaho news from The Spokesman-Review's bureau in Boise.
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