Property tax relief is on its way to Idahoans after the Idaho Legislature passed a simpler package of property tax relief bills following Governor Brad Little’s veto of House Bill 292 earlier this week.
In his veto, Governor Little called for the Legislature to deliver a simple property tax relief solution, not one intermingled with what he called a hodgepodge of policy items attached to it. The Legislature responded by fixing items the governor identified as concerns and responded.
The legislation would use a variety of funding sources to provide homeowner tax relief and provide money to school districts for paying off bonds and levies. One of the funding sources would include 4.5% of sales tax revenue. It would also increase eligibility for the circuit breaker — a tax exemption for low-income homeowners. The measure also eliminates the March election date for school districts to run bonds and levies.
The Idaho Legislature is expected to adjourn for a few days until Governor Little acts on the remaining bills that await his consideration. The Legislative session could wrap-up as son as next week.
