ID H0401

Exempts the first $125,000 or 50% of homestead market value (whichever is less) from property taxation for owner-occupied primary dwellings that meet uniform appraisal certification requirements.

Establishes penalties for improper homestead exemption claims, including a penalty equal to recovered property tax on first offense and misdemeanor charges for subsequent violations within seven years.

Authorizes county assessors to investigate and recover improperly claimed exemptions within a seven-year period, with procedures for assessment notices, appeals to county boards of equalization, and lien attachment on real property.

Requires state tax commission to establish a searchable database by July 1, 2023 of all active homestead exemptions indexed by person's name and homestead address to prevent multiple claims.

Allows state tax commission to disclose taxpayer residence information to county assessors and Idaho secretary of state for verifying homestead exemption eligibility and voter registration purposes, effective July 1, 2024.