As a homeowner in the state of Idaho, it’s important to be aware of the various tax relief programs and exemptions that are available to you. One such program is the Idaho Homeowners Exemption, which can help reduce your property tax burden.
The Idaho Homeowners Exemption allows eligible homeowners to receive a reduction in the taxable value of their primary residence. To be eligible, the homeowner must own and occupy the home as their primary residence. The exemption reduces the property’s taxable value by up to $100,000, which can result in significant property tax savings. This is an entirely different program from the Idaho Circuit Breaker Program.
To claim the Idaho Homeowners Exemption, you must apply to your county assessor’s office after you have purchased your home.
The application process is straightforward and requires basic information about the property and the homeowner’s residency status. Once the application is approved, the assessor’s office will apply the exemption to the property’s assessed value.
It’s important to note that the Idaho Homeowners Exemption is only available for primary residences, not vacation homes or rental properties.
If you have any questions about the Idaho Homeowners Exemption or need assistance with the application process, contact a qualified tax professional.