Idaho Homeowners Exemption
Idaho has a very unique way of handling real property taxes for owner-occupied homes and manufactured homes that are used as a primary residence. This includes the value of the structure and up to 1 acre of land.
When you purchase a new home in Idaho and intend to live in it and occupy it as your primary residence you qualify for real property tax relief. The law exempts 50% of the value of real property up to a maximum of $89,325 for a home and up to an acre of land for 2007. To learn more about the Idaho Homeowners Tax Exemption go to Homeowners Exemption
When you purchase a home in Idaho it is your responsibility to visit the assessors office of your county and apply for the Homeowners Exemption. It is important when you do this that you receive a receipt. You only have to do this one time unless you sell the home and relocate.
Circuit Breakers
If you owned and lived in a home or mobile home in Idaho that was your primary residence prior to April 15 of that year you may be entitled to a "Curcuit Breaker" which would drastically reduce or somtimes elimate your real property tax.
If you have a an annual income of $28,000 or less for 2007 and are 65 years of age or older you may qualify for real property tax relief. Go Idaho Circuit Breaker to find out what the requirements are to qualify.
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