NAMPA, Idaho — As communities across Idaho see rapid growth, there has been rapid growth in their property tax bills. The people who call the Gem State home have called on legislative and state leaders to do something.
An answer to that call came in the thick of the legislative session. Lawmakers passed House Bill 292, a bill that sends government dollars throughout Idaho to help chip away at property taxes.
If you check the fiscal filing, there is a multiyear projection on the assistance that HB 292 will provide. A minimum of $205 million will go out in year one, where we are now. Year two: a minimum of $122.5 million, and in year three: a minimum of $182.4 million. There is room for those numbers to go up depending on a few factors.
One of those factors for the current year was announced Wednesday.
“We’ve got a surplus,” said Idaho Governor Brad Little.
That means about $100 million is going to a big cause.
“It’s obvious that we needed to do something on property tax,” Little said.
The $100 million addition to property tax relief creates a grand total of $300 million dollars for the year. House Speaker Mike Moyle had his signature explanation cued up to help explain the variables of relief.
“The state of Idaho collects no property taxes, and the state of Idaho spends no property taxes," Moyle said. "That's all done at the local level. And in the next couple of weeks, you're going to see all these budget hearings by these locally elected officials setting those budgets. And if they're not careful with their budget decisions, they can suck up a lot of that the taxpayers won't see.”
“Like if you saw your taxes assessment notices this year, they gave you a number on the date when those hearings were going to happen. And I would encourage people to get there because we don't collect them. We don't spend. And those are all locally made decisions,” Moyle added.
There is a basic forecast that leaders shared in terms of relief for Idahoans. Senator Doug Ricks, chairman of the Senate Local Government and Taxation Committee, explained.
“A lot of the numbers come back. The estimate and what we're figuring is hopefully around 10% to 13%. Um, but there is like what was mentioned a variation on that. So, we're hoping that that comes true and we're hoping that cities and counties don't raise their budgets and consume all that over the next few years,” Ricks said.
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