ID S1107

Increases the income limit for property tax reduction program eligibility from $31,900 to $37,000 per household for tax year 2023 and thereafter.

Changes the home assessed value threshold from $300,000 or 150% of county median to $300,000 or 250% of county median; individuals exceeding this threshold are referred to the property tax deferral program instead.

Maintains the maximum tax reduction at $1,500 for the lowest income limitation, with the highest income limitation providing a $250 reduction or actual property taxes, whichever is less.

Exempts 100% disabled veterans from the home assessed value threshold requirements.

Declares an emergency and applies the changes retroactively to January 1, 2023.