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ID H0645
Bill
AI Summary
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Amends Idaho Code Section 63-301A to revise the new construction roll to include corrections for board of tax appeals decisions, court-ordered value changes, erroneous assessments, and land use classification changes.
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Expands what may be included on the new construction roll to encompass previously allowable but never-included new construction, with values reflecting what would have been included in the first eligible year.
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Revises the calculation of the three percent (3%) budget increase in Idaho Code Section 63-802 by clarifying that the increase applies to the previous year's levy multiplied by market value increases from new construction and land use changes shown on the new construction roll.
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Makes the same three percent (3%) calculation revisions to Section 63-802 as amended by 2009 legislation, with an effective date of January 1, 2011.
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Declares an emergency and makes Sections 1 and 2 retroactively effective to January 1, 2010, while Section 3 becomes effective January 1, 2011.
Legislative Description
Amends existing law to provide that certain additional information shall be shown on the new construction roll, to provide that the value shown on the new construction roll shall include certain taxable market value increases, to provide that new construction previously allowable but not included on a new construction roll shall be included on the roll and to provide for the value to be reflected; and to revise how the three percent increase in property tax budgets is calculated.
PROPERTY TAX
Last Action
Governor signed Session Law Chapter 283 Effective: 01/01/10 Sections 1 & 2; 01/01/11 Section 3
4/8/2010