The latest figures are out from the Idaho Tax Commission, and Idaho’s property taxes have continued their sharp shift onto residential property. The share of property tax paid by owners of residential property rose to 63.2 percent in 2005, up from 61.6 percent in 2004 and from 47.1 percent in 1990. Meanwhile, the share paid by other categories of property has continued to fall. Here are the figures:
Commercial property now pays 27.9 percent of property taxes, down from 28.7 percent last year. It was 33.2 percent in 1990.
Ag land accounts for 4 percent of property taxes today, down from 4.2 percent last year and 10.1 percent in 1990.
Timber property pays 0.7 percent of property taxes, down from 0.9 percent last year and 1 percent in 1990. Mining held steady at 0.3 percent, the same as last year and down from 0.7 percent in 1990. Utility property now pays 3.9 percent of property taxes in the state, down from 4.4 percent last year and 7.9 percent in 1990.
These numbers will be key as the Legislature convenes in a few weeks and considers a major proposal from an interim committee to increase the homeowner’s exemption, a move long opposed by business groups.