1% Property Tax Initiative

IDAHO SECRETARY OF STATE
Elections, Campaign Disclosure and Lobbyists

Ben Ysursa, Secretary of State

2006 PROPOSED BALLOT INITIATIVES

Contact Person / Organization		Charles Cline, Chairman Idaho Property Tax Reform PO Box 1581 Orofino ID 83544 [email protected] (866) 486-6240 (208) 486-6240

Status		deadline has passed, proponents did not submit required signatures for ballot status

Short Ballot Title		An initiative limiting property taxes to one percent of the January 2005 value or the transaction price of the property.

Long Ballot Title		An initiative to reform property taxes; including limiting property taxes to one percent of the value of property on January 1, 2005, or to the transaction price of property exchanged or constructed except for existing bonds or as authorized by two-thirds of voters in an election and providing for distribution of revenue; limiting annual increases in value of property to eight tenths of one percent; repealing provisions relating to equalization of taxes and replacing state and county boards of equalization with boards of valuation; requiring reporting to county assessors the actual cost of property sold; expanding property tax "circuit breaker" relief to include homesteads not owned by the occupant; repealing exemptions for fifty percent or fifty thousand dollars of the value of owner occupied residential improvements, the speculative value of agricultural property, rural homesite developments, residences in commercial zones, low income housing owned by nonprofit organizations, unused infrastructure, significant capital investments, and small employer growth incentives; requiring refund of excess property taxes; requiring monthly peroration of taxes for changes of status; modifying procedures for collection of delinquent taxes; repealing county warrant redemption funds; repealing income tax credits for real property improvement for corporate headquarters; and making conforming and technical changes.

Attorney General Certificate of Review		Can be viewed by following this link to the Attorney General's web site. This document is provided in PDF file format, you must have Acrobat Reader to view the file.

Full Text		An Initiative to establish a 1% cap on real property tax. Allowing a maximum 0.8% increase in property value per year. Establishing a base year of the 2003-2004 tax year and with the certified market value January 2005. Requiring truth in transaction and the actual transaction price for tax purposes. This eliminates the need of assessment and assessment values changing per neighborhood sales. This also eliminates the need of a Board of Equalization for real property tax. To accomplish this requires the following; Sections 205, 207, 301, 314, 315, 316, 317, 504, 602G, 602H, 602K, 602FF, 602GG, 602HH, 602II, 606A, 710, 802A, 1106, 2904, 2909 of Idaho Code 63 being the same is hereby repealed Sections 105, 105A, 201, 203, 204, 206, 208, 301A, 302, 303, 307, 308, 310, 311, 312, 501, 501A,502, 503, 505, 506, 508, 509, 510, 511, 511, 601, 602, 602A, 602C, 602D, 602E, 602S, 602W, 602X, 602Y, 602AA, 602BB, 602CC, 604, 701, 702, 704, 706, 707, 801, 802, 803, 805, 806. 809, 810,811, 902, 1004, 1006, 1008, 1012, 1015, 1101, 130, 1302. 1306, 1313, 1401, 1402, 1701, 1702, 2906, 2907 Of Idaho Code 63 and Section 808 of Idaho Code 31 are amended This is to have an effective date of January 01, 2007. Proposed Revised Title 31 Proposed Revised Title 63

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