ID Senate votes 35-0 for personal property tax cut

ID Senate votes 35-0 for personal property tax cut

Credit: KTVB

ID Senate votes 35-0 for personal property tax cut

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by John Miller/ Associated Press

KTVB.COM

Posted on March 26, 2013 at 6:45 PM

BOISE -- Nearly 90 percent of Idaho's businesses will no longer have to pay taxes on their computers, tables, chairs and other personal property, if Gov. C.L. "Butch" Otter signs a $20 million tax relief bill that's now cleared the Senate.

Tuesday's bipartisan 35-0 vote was a victory for counties and school districts that argued an alternative $120 million repeal proposal floated by industry was too expensive.

This plan exempts businesses' first $100,000 worth of personal property from taxation.

Purchases up to $3,000 are exempt from future taxes, while the bill also streamlines reporting requirements.

Republican Sen. Jeff Siddoway of Terreton said the repeal would make life easier and a little cheaper for most of the state's business community, while boosting the cash companies have available to invest in Idaho's economy.

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