Idaho Real Property Taxes

Idaho Homeowners Exemption

Idaho has a very unique way of handling real property taxes for owner-occupied homes and manufactured homes that are used as a primary residence.  This includes the value of the structure and up to 1 acre of land.

When you purchase a new home in Idaho and intend to live in it and occupy it as your primary residence you qualify for real property tax relief.  The law exempts 50% of the value of real property up to a maximum of $104,471 for a home and up to an acre of land for 2009.  For the year 2010 property taxes, due and payable no later than December 20, 2010 (first half) and June 20, 2011 (second half), the percentage reduction is unchanged (50%), but the exemption can reduce taxable value up to a maximum of $101,153 for the home and up to one acre of land. To learn more about the Idaho Homeowners Tax Exemption go to Homeowners Exemption.

When you purchase a home in Idaho it is your responsibility to visit the assessor’s office of your county and apply for the Idaho Homeowners Exemption.  It is important when you do this that you receive a receipt.  You only have to do this one time unless you sell the home and relocate.

Idaho Circuit Breakers

If you owned and lived in a home or mobile home in Idaho that was your primary residence prior to April 15 of that year you may be entitled to an “Idaho Circuit Breaker” which would drastically reduce or sometimes eliminate your real property tax.

If you have an annual income of $29,000 or less for 2009 and are 65 years of age or older you may qualify for real property tax relief. Go Idaho Circuit Breaker to find out what the requirements are to qualify.