ID H0379

Requires county assessors to calculate a 5-year rolling average value for residential, commercial, agricultural, and industrial real property and use the lower of current market value or rolling average for assessment purposes.

Exempts properties from rolling average calculations when ownership changes, use/category changes, property boundaries change, or usable square footage increases by 10% or more; resets rolling average upon such changes.

Excludes forest lands and mines from the rolling average calculation requirements.

Clarifies that differences between rolling average values and current market values are considered exemptions for property roll purposes.

Effective January 1, 2024.