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Homeowner tax break rises again

Gregory Hahn
Edition Date: 09/19/07
Idahoans who own the homes in which they live will get up to a $100,938 tax exemption for 2008.
The Idaho Tax Commission released the number Wednesday, though it won't go into effect until next year. The rate is based on home values increasing around the state.

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, up to the maximum that now changes each year along with the Idaho Housing Price Index, published by the United States Office of Housing Enterprise Oversight.

The new exemption won't apply to any bills you'll receive this year — the maximum of $89,325 still stands for now.

“The 2008 exemption amount of $100,938 doesn’t apply to any property tax bills homeowners receive for 2007,” said Alan Dornfest, property tax policy supervisor. “We won’t know the effect it has until next year’s property values and taxes are figured out.”

Idaho’s homeowner’s exemption began in 1980, with a maximum of $10,000. It remained at that level until 1983, when it was raised to $50,000 by voter initiative. The 2006 Idaho Legislature raised the exemption to $75,000 and tied future numbers to the Housing Price Index.

Idaho 5th Lowest in Cost of doing Business Index Click Here
The Cost-of-Doing-Business Index indicates each state’s comparative advantages or disadvantages in attracting and retaining businesses. Each state is measured on the five individual categories, and those weighted scores are compiled to make the overall index. An index score of 100 means that the state is equal to the U.S. average in that particular category.

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Corporation for Enterprise Development
January 2007
Idaho's economy and employment markets are one of the strongest in the nation. The Corporation for Enterprise Development's Annual Report Card for the States gave Idaho an A for job growth. It is now in fourth place in the employment category, up from 17th a year ago.
The most significant grade awarded to Idaho was in earnings and and job quality. Progress on many fronts is undeniably positive. All good news for people thinking about relocating.

03/26/06
Electric Power Rates to Drop
The average Idaho Power Co.'s residential customer's electric bill will drop 14 percent, or nearly $9 a month this summer, thanks to a rate reduction approved Thursday.

The Idaho Public Utilities Commission approved decreases in a portion of Idaho Power's rate that changes every year depending on water levels and market conditions. Money received from that rate doesn't contribute to company profits but helps the company pay for its power-supply costs. Because Idaho Power obtains most of its power from hydroelectric plants, this rate falls in good water years and rises in dry years.

04/21/2006

Headline Searching for wide open spaces under southern Idaho skies (click to view)

04/13/2006

Idaho Power Drops Electricity Rates (click to view)

12/22/2006

From: U S Census

Idaho population estimate by Census Bureau places Idaho number # 3 with Nevada - 3.5% increase, Arizona - 3.5% increase and Idaho - 2.4% increase. Change is estimated from 2004 to 2005.

11/25/2005

Idaho Power Rates Low
By: Idaho Statesman

Idaho Power's electrical rates are among the nation's lowest, according to a biannual survey by the Edison Electric Institute that compares rates for investor-owned utilities nationwide.

The survey found that Idaho Power's residential rates were third lowest in the West, trailing only companies that provide power in Lewiston, Spokane and Bellevue, Wash.

Nationally, only 20 of 187 companies responding to the survey had rates lower than Idaho Power.

09/02/05 - Idaho Statesman

Florida, California, Nevada and Arizona are no longer the only states represented in the top 20 metropolitan areas; Idaho and Utah have now entered.

• Twenty-five states showed double-digit annual price growth and eight states had price rises exceeding 20 percent.

Office of Federal Housing Enterprise Oversight: http://www.ofheo.gov