ID H0243

Establishes the homestead property tax exemption at $100,000 of market value or 50% of market value, whichever is lesser, beginning in tax year 2019.

Requires the state tax commission to annually adjust the maximum exemption amount beginning in tax year 2020 based on changes in the U.S. all-transactions house price index for Idaho as determined by the federal housing finance agency.

Mandates adjustments be published no later than October 1 each year and become effective for claims filed in the following property tax year.

Maintains existing eligibility requirements including owner-occupancy, primary dwelling use, county assessor certification of uniform appraisals, and owner certification by April 15.

Establishes a seven-year recovery period for improperly claimed or approved exemptions, with procedures for county assessor notification, taxpayer appeal rights, and lien attachment on unpaid recovery amounts.