The governor signed the last hour bill despite having reservations about the process and whether it will really bring relief to homeowners.
BOISE, Idaho – Brad Little, Governor of Idaho, has signed property tax easing bill that opponents say is deeply flawed, but supporters describe it as better than nothing. It was the last bill that crossed his desk at the meeting.
The Republican governor on Wednesday approved legislation that lawmakers passed last week with little public participation.
In his transmission letter to House Speaker Scott Bedke, Little wrote that he supported the intention to give homeowners tax breaks at a time when Idaho property prices are rising, but expressed concerns about the process and the practical implications of the law .
The new law comes into effect immediately, with essential parts of it retroactively from January 1st.
The measure increases the homeowner’s exemption from $ 100,000 to $ 125,000. Critics say it doesn’t go far enough as home values continue to skyrocket in Gem State. Little conceded, the bill will bring no long-term relief.
It also increases property tax from $ 1,320 to $ 1,500 for qualified, low-income seniors known as breakers. This helps Idahoans who are 65 years of age and older, disabled, blind, or widowed, and other qualified groups. Little says he supports an update, but fears these changes could have unintended consequences for some individuals and families.
Corporations will receive an increase in property tax exemption from $ 100,000 to $ 250,000.
Opponents claim that the bill will restrict the basic services provided by local authorities by limiting tax revenues from the new construction.
RELATED: Local Leaders Oppose Property Tax Ease Act
Little Idaho wrote taxes must be fair, simple, competitive, and predictable. And when you look at them against those pillars of tax policy, he said House Bill 389 falls short.
“The bill is a compilation of complex and nuanced changes to Idaho’s property tax law, and I am concerned that it was introduced in the last few days of Idaho’s longest term in office.
I’m signing House Bill 389 because it gives Idaho taxpayers some relief. However, I fear that the long-term consequences may outweigh this temporary reparation. I believe we can do more to address this growing problem, and I believe we can do it in ways that are not only more transparent, but also better match my goal of fairer, simpler, more competitive and more predictable taxes.
I have spoken to lawmakers before, and we jointly commit to working with cities, counties and other stakeholders to address the issues within the bill and develop a sustainable, long-term solution. “
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