Seth Grigg of the Idaho Association of Counties told the House Rev & Tax Committee this morning, “We  see this as a beginning process, through which at some point in time a full repeal might occur.” He said, “HB 272, in our view, is a starting point, not an ending point. ... In the future, as the Legislature feels it is appropriate, the $100,000 exemption … can easily be increased and expanded.”

The bill also includes an exemption for newly purchased personal property worth up to $1,500, purchased on or after Jan. 1, 2013; it won’t be tracked or taxed. Grigg said, “We believe that HB 272 is doable. The fiscal impact is small. We believe that it would provide tax relief to all Idaho businesses.” He said no neighboring states have either fully repealed their personal property tax on business equipment or granted an exemption as large as that proposed by HB 272.