What is the Homeowners Exemption and how do I qualify for it?
A. The Homeowner’s Exemption is provided for Idaho property owners by action of the State Legislature. It allows exemption from taxation of a significant portion of the assessed value of the owner’s primary residence as long as specific requirements have been met. This exemption allows 50% of the value for the home and up to one acre of land to be exempt from taxation. The maximum amount allowed for 2011 is $92,335.00. The home must be owner-occupied by an Idaho resident as the owner’s primary residence. To obtain the exemption, print and complete the Homeowner’s Exemption Application and file it with the Assessor’s Office on or before April 15 in order to obtain the exemption for that tax year. Once filed, the exemption remains valid as long as the requirements of owner-occupancy and primary residence continue to be met.
