ID H0283

Amends Section 63-301A to require the new construction roll to show reductions in taxable market value for properties that became exempt under Idaho tax law in the two years preceding the current tax year, provided the reduction does not exceed the amount originally added to the new construction roll, with exceptions for certain exemption categories.

Modifies Section 63-802 to require subtraction from the maximum property tax budget of amounts calculated using the new construction roll value for properties that became tax exempt, determined for each of the three preceding tax years or the last year a levy was made.

Establishes in Section 63-803 that taxable value shall exclude any value on the current year's property roll for property qualifying for exemption under Section 63-602A, Idaho Code, when ownership has transferred to the state of Idaho by August 1 of the current year.

Provides that if exempt property does not qualify for the exemption by August 1 of the current year, the adjustment to maximum property tax revenue shall occur in the year following the first year the exemption is granted.

Declares an emergency and provides that Section 1 takes effect retroactively to January 1, 2017, while Sections 2 and 3 take effect July 1, 2017.