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House Bill 562 — Homestead exemption deadline

House Bill 562 — Homestead exemption deadline

Lindsay Atkinson
March 2, 2020

Bill description: HB 562 would remove the current deadline for Idahoans to file for a homestead exemption with their county assessor’s office. 

Rating: +1

Does it directly or indirectly create or increase any taxes, fees, or other assessments? Conversely, does it eliminate or reduce any taxes, fees, or other assessments? 

HB 562 removes the deadline to file for a homestead tax exemption. The exemption is used in calculating the taxes due on a property, and it allows landowners to remove $100,000 of taxable value from their primary residence.

Currently, an Idaho resident who seeks this exemption must file for it with the county assessor by April 15, to claim it for the tax year. The fiscal note for this bill says that this date puts some residents at a disadvantage. It describes  the example of a former rental property that has not had the exemption, but was sold to a new owner who intends to occupy that property as a primary residence. The new owner who misses the filing deadline because the sale happened after that date, or for some other reason, will not be able to claim the exemption. This bill would remove that deadline so that Idahoans can apply for the exemption any time year-round, and the exemption “shall be effective upon the date of the application.”


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