Idaho Property Tax Freeze in the Works
There’ll likely be a statewide property tax freeze on the way. A caller to Newsradio 1310 KLIX suggested it could be a three year freeze, however. I’ve done some checking and it appears for now it’s only a one year lid. State House Majority Leader Mike Moyle joined us on-air and explained it wouldn’t reduce anyone’s taxes but offers some time to look for a solution.
The challenge is the rates of increase aren’t standard across the state. We’re seeing frightening increases in the Treasure Valley and some spikes in the Magic Valley. Moyle admits some county and city governments won’t be happy with any freeze. For counties, this could impact 40 percent of budgets and one fifth of many city budgets.
We’re seeing frightening increases in the Treasure Valley and some spikes in the Magic Valley.
The House is sending the proposal on to the State Senate. If the Senate approves, it then moves to Governor Brad Little.
The skyrocketing taxes are a byproduct of Idaho’s sudden growth. It’s not impacting commercial property but is at crisis level for some residential neighborhoods.
The Majority Leader explains it’s especially acute for retirees. He shares the story of a widow he has known his entire life. He grew up with her children. She was fine until a new development went up behind her house. Now she may be forced to leave over rising taxes.
A political candidate once told me 25 years ago none of us really own our property. In his view, property taxes are the same as paying rent.
Creating an alternative to taxing property could well be even less popular than property tax, although. Some have suggested it would be more equitable because it would spread taxation between property owners and people who don’t have any property. Moyle isn’t backing any such suggestions at the moment.
You can hear his thoughts by clicking below on the YouTube video: