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ID H0562
Bill
Status
3/7/2012
Primary Sponsor
Revenue and Taxation Committee
Click for details
AI Summary
H0562 Summary
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Establishes a new calculation method for community college district tax rates within revenue allocation areas, using base assessment roll value plus any increment value exceeding the January 1, 2011 increment value.
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Allocates all taxes levied by community college districts for maintenance and operation purposes and gymnasiums/grounds to the taxing district rather than to the urban renewal agency.
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Amends section 63-803 to reference the new community college district tax calculation provisions when fixing tax levies other than those specified in the Local Economic Development Act.
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Updates section 63-811 to reference the new provisions regarding taxable value calculations for property tax computations by county auditors.
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Clarifies that for all other purposes under Idaho Code, "market value for assessment purposes" retains its definition in section 63-208.
Legislative Description
Amends existing law relating to the Local Economic Development Act to establish provisions relating to calculating the rate at which taxes shall be levied for levies for certain community college districts and to revise provisions relating to the allocation of certain tax revenues.
LOCAL ECONOMIC DEVELOPMENT ACT
Last Action
to Loc Gov
3/8/2012