Homeowners Exemption

ABOUT THE HOMEOWNERS EXEMPTION

Idaho has a homeowner’s exemption for owner-occupied homes and manufactured homes, which are primary dwellings, that includes the value of your home and up to one acre of land.

For the 2007 property taxes, due and (at least half) payable no later than December 20, 2007 and June 20, 2008 (second half), this law exempts 50% of the value up to a maximum of $89,325 for the home and up to one acre of land.

For the 2008 property taxes, due and payable no later than December 20, 2008 and June 20, 2009, the percentage reduction is unchanged (50%), but the exemption can reduce taxable value up to a maximum of $100,938 for the home and up to one acre of land.

WHO QUALIFIES?

To qualify, applicants must own, occupy and use the dwelling as of January 1 but before April 15. Although there are no income or age restrictions to qualify for the Homeowner's Exemption, taxpayers can qualify for an exemption on only one home.
The actual statute governing qualification for the Homeowner's Exemption is found here.

HOW DOES ONE APPLY?

Go here to download a Homeowners Exemption application, or click here to have one mailed to you (please provide name and address of recipient).

WHAT HAPPENS AFTER MY APPLICATION IS APPROVED?

When the application is approved, the exemption is permanent as long as one owns and occupies the property. If the property is sold, the new owner must file a new application.

WHAT IS THE APPLICATION DEADLINE?

The deadline for applying for the Homeowner's Exemption is April 15th at 5 p.m. (if the 15th falls on a weekend, the deadline becomes the next immediate business day thereafter).

WHAT ELSE DO I NEED TO KNOW ABOUT THE HOMEOWNER'S EXEMPTION?

Many taxpayers wait until the last minute to apply for these exemptions. Others fail to qualify because they misunderstand the law's guidelines and deadlines.

Applying now can ensure the taxpayer spends less waiting time in line and provides assurance that all supporting documentation was obtained in time.