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The Tax Shift Part I

November 23rd, 2006 by Halli

In August of this year, the Idaho legislature convened a special session in which Governor Jim Risch prevailed in shifting a significant portion of property tax revenue (used to fund school operations and maintenance) to the sales tax. In so doing, the sales tax was raised from 5% to 6%.

As 2007 property tax bills go out to Idahoans across the state, the news is generally good! Combined with the legislature’s increase of the homeowner’s exemption from $50,000 to $75,000, the tax shift is giving meaningful relief. Instead of the large increases in property taxes seen nearly every year, most homeowners will actually see a decrease.

Many Idahoans are being taxed right out of the homes they have owned for years, as county assessors try to keep their appraisals abreast of skyrocketing market values. That is why most conservative legislators see the property tax as the least fair of the three taxes levied in the state.

Posted in Politics in General, Taxes | 2 Comments »

2 Responses

  1. TrishAndHalli.com » Blog Archive » The Tax Shift Part II Says:

    [...] There are, of course, arguments against the Idaho legislature’s shift of some school expenses from property tax to the sales tax. Democrats are aghast that the poor as well as the rich will be paying more in sales tax. Conservatives and Libertarians are pleased that everyone will be paying their share of school funding. [...]

  2. TrishAndHalli.com » Blog Archive » Own or Rent? You May Be Surprised! Says:

    [...] Expect more posts on Idaho taxation in the near future. [...]

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