The House Rev & Tax Committee has convened at the unaccustomed hour of 7:30 a.m. today, to hear HB 315, the latest personal property tax relief bill from the Idaho Association of Counties. “We hope it provides a path forward for the Legislature to deal with personal property tax this year,” said Seth Grigg of the IAC, who said the bill also is supported by the Idaho School Boards Association and the Idaho Association of Cities. The new bill, introduced yesterday in the House Ways & Means Committee, would, like HB 272, exempt the first $100,000 in business equipment from the tax for each taxpayer in each county, but it also would include operating property, bumping the price tag for the state up to $20 million a year, and it would double the exemption for newly purchased items from $1,500 to $3,000.
It would replace the lost funds to local governments and taxing districts, but at a fixed, 2013 level that would not grow.
Betsy Z. Russell covers Idaho news from The Spokesman-Review's bureau in Boise.
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