Many of us, particularly in booming areas of North Idaho and resort communities south of us, feel the pain of escalating property taxes. On the plus side, though, our property’s value is likewise skyrocketing. That’s a dilemma millions of Americans with flat or decreasing property values would love to have. In our view, the solution is additional, specific legislation to help those on fixed incomes ensure they will not lose their homes or suffer undue hardships in this robust economic climate. Idaho legislators took steps in that direction last session, increasing the homeowners’ exemption and providing a circuit breaker for senior citizens that could reduce their tax liability by as much as $1,320.
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