Idaho homeowners receive average 18-percent property tax reductionWednesday November 29, 2023
Boise, Idaho – Property tax bills arrive in Idahoans’ mailboxes across the state this week, and in most counties, taxpayers will see huge reductions in year-over-year taxes due to the historic property tax relief bill championed by Governor Brad Little and the Idaho Legislature this year.
The average reduction in property taxes for Idaho homeowners is approximately 18-percent. The average reduction in property taxes for all property taxpayers, including commercial, is nearly 14-percent.
The State of Idaho provided a new spreadsheet showing the total $314 million breakdown by county. That new spreadsheet is available at this link: https://gov.idaho.gov/wp-content/uploads/2023/11/hb292-tax-savings-summary.xlsx
“Idaho already has the third lowest property taxes in the country, and we took steps this year to lower them further. Idaho has delivered more tax relief per capita than any other state, and we’re proud to turn money back to the hardworking people of our state while making critical investments in schools and infrastructure to keep up with growth,” Governor Little said.
In his 2023 State of the State and Budget Address in January, Governor Little announced his budget would include property tax relief for Idahoans clamoring for relief amid rapid increases in property values due to our state’s record growth over the past few years. Working together, the Governor and legislators got property tax relief done right and delivered $314 million in enduring property tax relief in the first year as part of House Bill 292.
More than $106 million in state General Fund dollars was deployed at the end of August to school districts across Idaho. The breakdown by school district is available at this link:
As Governor Little noted in his 2023 State of the State and Budget Address in January, when the State of Idaho invests more in public schools and local needs, property taxpayers see the benefits.
“There is no doubt Idaho’s tremendous pace of growth is putting a strain on services at the local level, which increases the potential to drive up your local property taxes. But too often, we are simply shifting burdens across taxpayers when we should be addressing the needs head-on. Let us work on better ways to facilitate growth paying for growth and give local governments the tools they need to keep taxes low. How? By continuing to make long-range strategic investments in schools, roads, water, and other key areas to maintain our high quality of life,” Governor Little said in his speech.