Current through August 31, 2023
Sections
63-1702,
63-1703, Idaho Code
01.
Definitions. The following
definitions apply to the valuation of residential parcels that are contiguous
to lands classified as forestlands. (3-31-22)
a. Homesite. The "homesite" is that portion
of land, contiguous with but not qualifying as forestlands, and the associated
site improvements used for residential purposes. (3-31-22)
b. Associated Site Improvements. The
"associated site improvements" include developed access, grading, sanitary
facilities, water systems, and utilities. (3-31-22)
02.
Homesite Assessment. Each
homesite and residential and other improvements, located on the homesite, will
be assessed at market value each year. (3-31-22)
a. Accepted Assessment Procedures. Market
value will be determined through procedures, methods, and techniques
recommended by nationally recognized appraisal and valuation associations,
institutes, and societies and according to guidelines and publications approved
by the Tax Commission. Acceptable techniques include those that are either time
tested in Idaho, mathematically correlated to market sales, endorsed by
assessment organizations, or widely accepted by assessors in Idaho and other
states. (3-31-22)
b. Appropriate
Market and Comparable Selection. The appropriate market is the market most
similar to the homesite and improvements located on the homesite. In applying
the sales comparison approach, the appraiser should select comparables having
actual or potential residential use. (3-31-22)
c. The value and classification of the
homesite will be independent of the classification and valuation of the
remaining land. (3-31-22)
03.
Forestlands of Less Than Five Acres
and Contiguous Parcels. A parcel of forestland that is less than five
(5) acres is not eligible for valuation and taxation as forestland unless the
land is contiguous with one (1) or more other parcels of forestland under the
same ownership and the contiguous parcels together constitute five (5) acres or
more of forestland as defined in Section
63-1701, Idaho Code. The five (5)
acre minimum requirement must exclude any homesite. In the following examples
each parcel of land is forestland as defined in Section
63-1701, Idaho Code, unless
otherwise stated in the example. (3-31-22)
a.
Example 1. A landowner owns a fifteen (15) acre parcel which contains four (4)
acres of forestland, nine (9) acres of irrigated row crop, and two (2) acres of
homesite. The four (4) acres of forestland is not eligible for valuation and
taxation as forestland. (3-31-22)
b. Example 2. A landowner owns five hundred
and six (506) acres consisting of one (1) five hundred (500) acre parcel of
forestland and six (6) one (1) acre parcels of forestland, that are not
contiguous either to one another or to the five hundred (500) acre parcel. The
five hundred (500) acre parcel is eligible for valuation and taxation as
forestland. The six (6) one (1) acre parcels, are not eligible for valuation
and taxation as forestland. (3-31-22)
c. Example 3. A landowner owns five hundred
and six (506) acres consisting of one (1) five hundred (500) acre parcel of
forestland and six (6) one (1) acre parcels of forestland that are contiguous
to the five hundred (500) acre parcel but may or may not be contiguous to one
another. The entire five hundred and six (506) acres are eligible for valuation
and taxation as forestland. (3-31-22)
d. Example 4. A landowner owns six (6)
non-contiguous one (1) acre parcels of forestland. The six (6) one (1) acre
parcels are not eligible for valuation and taxation as forestland.
(3-31-22)
e. Example 5. A landowner
owns six (6) contiguous one (1) acre parcels of forestland. The six (6) one (1)
acre parcels are eligible for valuation and taxation as forestland.
(3-31-22)
