Senate Bill No. 1277 Summary

• Homestead property tax exemption applies to the first $100,000 of market value or 50% of market value, whichever is less, for owner-occupied primary dwellings.

• State tax commission must create a standardized application form that collects only information necessary to determine eligibility and must be available at county assessor offices, state tax commission offices, and on websites for both entities.

• Application form may be provided to residential property purchasers at closing and can be submitted to the county assessor when the deed is presented for recording.

• Owners must certify by April 15 that the homestead is their primary dwelling place and that they have not applied for the exemption in any other county or on any other homestead in the county.

• Technical corrections include clarifying definitions of "owner," "primary dwelling place," and "occupied" by cross-referencing Idaho Code sections 63-701 and 63-703.