Idaho’s Maximum Homeowner’s Tax Exemption Increases in 2014

The Idaho Tax Commission has announced that the maximum homeowner’s tax exemption will rise from $81,000 in 2013 to $83,920 in 2014. The exemption has been in effect since 1980, when the maximum was $10,000, and “provides a partial property tax exemption to qualified homeowners for their primary dwelling up to one acre of land. The law exempts 50 percent of the assessed value from taxation; however, the exemption can’t exceed the maximum value that changes each year.