ID H0843

Homestead property tax exemption applies to the first $125,000 of market value or 50% of market value, whichever is lesser, for owner-occupied primary residences in Idaho

Eliminates proration of the homestead exemption when eligibility status changes during the tax year; the full exemption amount now takes effect as of January 1 of the tax year when the application is approved

Removes detailed procedures for calculating prorated taxes based on number of days of eligibility and for adjusting taxable value when property becomes eligible or ineligible mid-year

Adds provision requiring that when a taxpayer claims a homestead exemption after January 1 while receiving an exemption on a separate property from a prior tax year, the exemption on the separate property must be removed the following tax year

Declares an emergency and applies retroactively to January 1, 2026