House Bill 431 Summary

• Increases the homestead property tax exemption from $75,000 to $100,000 of market value, or 50% of market value, whichever is lesser.

• Removes the annual cost-of-living adjustments tied to the Idaho housing price index that were previously required beginning in tax year 2007.

• Maintains existing requirements that homesteads must be owner-occupied primary dwellings, with county assessor certification of uniform property appraisals and owner certification by April 15.

• Preserves provisions allowing continued exemptions for active military service absences and during the year of owner's death plus the following tax year, without loss of qualification.

• Retains detailed procedures for recovery of improperly claimed exemptions, including a 7-year statute of limitations, appeal rights, and lien attachment mechanisms.