Idaho Administrative Code
Title IDAPA 35 - Tax Commission, State
Rule 35.01.03 - PROPERTY TAX ADMINISTRATIVE RULES
Section 35.01.03.609 - PROPERTY EXEMPT FROM TAXATION - HOMESTEAD
Current through August 31, 2023
Sections 63-602G, 63-701, 63-703, and 63-3077, Idaho Code
01. Homestead Exemption. The Homestead Exemption granted in 63-602G, Idaho Code will also be known as the homeowner's exemption. (3-31-22)
02. Maximum Amount of Homestead Exemption. The homestead exemption is limited to the lesser of fifty percent (50%) of assessed value or one hundred thousand dollars ($100,000). (3-31-22)
03. Partial Ownership. Any partial ownership will be considered ownership for determining qualification for the homeowner's exemption; however, the amount of the exemption will be decided on the reduced proportion of the value commensurate with the proportion of partial ownership. The proportional reduction will not apply to the ownership interests of a partner of a limited partnership, a member of a limited liability company or a shareholder of a corporation when that person has no less than five percent (5%) ownership interest in the entity unless any ownership interest is shared by any entity other than the limited partnership, limited liability company or corporation. For tenants in common with two (2) improvements located on one (1) parcel of land, determine the applicable value for the homeowner's exemption using the procedure shown in Example 1 of Paragraph 609.03.a., of this rule unless the owner-occupant provides documented evidence of a different ownership interest in the improvement. See Examples 2, 3, and 4 in Paragraphs 609.03.b., 609.03.c., and 609.03.d. of this rule for additional partial ownership guidance. To calculate property tax reduction benefits when partial ownership exists, see Paragraph 700.05.b. of these rules. (3-31-22)
|
Description |
Value |
Notes |
|
Land |
$42,000 | |
|
Residential Improvement |
$82,000 |
Occupied by Mr. Smith |
|
Prorated Ownership Interest (land and improvement) |
$62,000 |
Mr. Smith's interest |
|
Homeowner's Exemption |
$31,000 |
For Mr. Smith as owner occupant |
|
Residential Improvement |
$67,000 |
Occupied by Mr. Anderson |
|
Prorated Ownership Interest (land and improvement) |
$54,500 |
Mr. Anderson's interest |
|
Homeowner's Exemption |
$27,250 |
For Mr. Anderson as owner occupant |
(3-31-22)
|
Item Description |
Value |
Notes |
|
Land |
$42,000 |
Split 50% to each owner |
|
Residential Improvement |
$82,000 |
Owned and occupied by Mr. Smith |
|
Homeowner's Exemption |
$51,500 |
For Mr. Smith |
|
Residential Improvement |
$67,000 |
Owned and occupied by Mr. Anderson |
|
Homeowner's Exemption |
$44,000 |
For Mr. Anderson |
(3-31-22)
|
Description |
Value |
Notes |
|
Land |
$95,000 | |
|
Residential Improvement |
$215,000 | |
|
Land and Improvement |
$310,000 | |
|
Prorated ownership interest (land and improvement) ($310,000 X 50%) |
$155,000 |
Mr. & Mrs. Johnson's interest |
|
Homeowner's Exemption Maximum for 2010 ($100,000 X 50%) |
$50,000 |
Mr. & Mrs. Johnson's Homeowner's Exemption |
|
Prorated ownership interest (land and improvement) ($310,000 X 50%) |
$155,000 |
Ms. Smith's interest |
|
Homeowner's Exemption Maximum for 2017 ($100,000 X 50%) |
$50,000 |
Ms. Smith's Homeowner's Exemption |
(3-31-22)
|
Description |
Value |
Notes |
|
Land |
$65,000 | |
|
Residential Improvement |
$195,000 | |
|
Land and Improvement |
$260,000 | |
|
Prorated ownership interest (land and improvement) ($260,000 X 50%) |
$130,000 |
Mr. & Mrs. Doe's interest |
|
Homeowner's Exemption (Maximum for 2017 is 50% up to $100,000) |
$65,000 |
Mr. & Mrs. Doe's Homeowner's Exemption |
|
Prorated ownership interest (land and improvement) ($260,000 X 50%) |
$130,000 |
Mr. Person's interest |
|
Homeowner's Exemption |
$0 |
Mr. Person does not qualify for a homeowner's exemption on this property. |
(3-31-22)
04. Part Year Ownership. For qualifying taxpayers who claimed the homeowner's exemption on an eligible property, the homestead that qualified on January 1 of the current tax year will continue to receive the exemption, provided however, the assessor may remove that property's exemption if, by April 15 of the tax year, the taxpayer owns a different homestead and requests that the exemption be transferred to the second homestead. (3-31-22)
05. Determination of Residency. The Commission may release pertinent information from any Idaho income tax return to the county assessor and the county Board of Equalization for the sole purpose of providing one (1) indicator of eligibility for the homeowner's exemption. According to Section 63-3077(4), Idaho Code, this information is confidential and is not subject to public disclosure. (3-31-22)
06. Notification of Erroneous Claims. When it is determined that an exemption granted under this Section to a taxpayer who has also received property tax relief under Chapter 7, Idaho Code, should not have been granted, the county assessor will notify the Commission of the determination. (3-31-22)
