Idaho Tax Commission Sets 2016 Homeowner Exemption 

The Idaho State Tax Commission
has set higher homeowner tax exemption thresholds for 2016—the third increase in as many years but only the third increase since 2009.  

The commission announced Monday the maximum exemption for 2016 will increase to $94,745, up from $89,580 in 201;, $83,920 in 2014; and $81,000 in 2013. 

“The current index shows a 5.77 percent increase in house prices for Idaho,” said Alan Dornfest, Property Tax Policy Bureau chief for the Tax Commission. “This is the third year of increase following four years of decreases.”

Idaho provides a partial property tax exemption to qualified homeowners for their primary dwelling and up to one acre of land. The law exempts 50 percent of the assessed value from taxation. However, the exemption can’t exceed the maximum value, which changes each year.

The state homeowner's exemption began in 1980, when the maximum was $10,000. It remained at that level until 1983, when it was raised to $50,000 by voter initiative. In 2006, the Idaho Legislature raised the exemption to $75,000 and tied future limits to the Idaho House Price Index.
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