Homeowners exemption limit OK’d

Idaho’s long-prized homeowner’s exemption from property tax would lose its inflation index, under legislation that won final passage in the state Senate late Tuesday and now heads to the governor’s desk. The change is small – homeowners whose homes are worth $200,000 or less would see no change next year, and those whose homes are worth more would only gradually lose part of their exemption as home values rise. But it marks a return to a situation that led to a statewide tax revolt two decades ago, and the vote came as some senators said they wished they could do away with the popular exemption altogether. Most of North Idaho’s senators opposed the change, saying most homes in their region already are worth more than $200,000 – so most homeowners would lose. “My legislative district takes in a lot of residential property,” said Sen. Bob Nonini, R-Coeur d’Alene, who voted no/ Betsy Russell , Eye on Boise. More here.