ID H0556

County commissioners may grant personal property tax exemptions for all or a portion of the market value of personal property located in their county beginning January 1, 2019.

Board of county commissioners must hold a public meeting and provide at least 5 calendar days' written notice to all affected taxing districts and urban renewal agencies before granting an exemption.

Once an exemption is granted, no further approvals are necessary and the property will no longer be assessed by the county or state tax commission.

County clerks must certify to the state tax commission by the third Monday of November each year, identifying exempted properties, their values, locations, applicable tax levies, and tax amounts before and after exemption.

The law becomes effective January 1, 2019, and the legislature declares the exemption necessary and just.