By Ruth Brown, Idaho Reports
Gov. Brad Little announced Wednesday that Idahoans will see $300 million in property tax relief, with roughly $100 million of that coming from a surplus eliminator at the end of the fiscal year.
The amount of relief each Idahoan will receive depends on the taxing districts they live in, as some counties and cities have different taxing amounts. Taxpayers will see the combined reduction as a line item on their November tax notice.
Little made the announcement outside a home in Nampa, pointing to the everyday Idahoans who will benefit. He was joined by House Speaker Mike Moyle, R-Star, Rep. Jason Monks, R-Meridian, and Sen. Doug Ricks, R-Rexburg, who all co-sponsored House Bill 292.
HB 292 passed in the 2023 Legislative Session and directs revenue from state sales tax collections to school districts for bond and levy payments and to homeowners for direct relief.
The bill budgeted at least $205 million in property tax relief in the first year, but also included a surplus eliminator. That means any excess cash in the state budget when the fiscal year ends on June 31 goes to additional property tax relief.
The first $50 million in surplus goes directly to homeowners, and the rest is divided evenly between homeowners and schools.
Because the state ended the most recent fiscal year with an additional $99.1 million, due to higher revenue than expected, property taxpayers will see a total of about $300 million in relief.
“I think we’re always going to try to reduce the tax burden for Idahoans every year, regardless of the numbers,” Monks said. “We’ll try to work together with the House, the Senate, and the Governor and come up with a plan.”
Moyle stressed that depending on what local municipalities choose to do in their budget season, the relief could change. He encouraged Idahoans to attend those budget meetings.
“The state of Idaho collects no property taxes and spends no property taxes,” said Moyle.
Ruth Brown | Producer
Ruth Brown grew up in South Dakota and her first job out of college was covering the South Dakota Legislature. She’s since moved on to Idaho lawmakers. Brown spent 10 years working in print journalism, including newspapers such as the Idaho Statesman and Idaho Press, where she’s covered everything from the correctional system to health care issues. She joined Idaho Reports in 2021 and looks forward to telling stories about how state policy can impact the lives of regular Idahoans.