Homeowners Exemption


What is it?

Idaho has a homeowner’s exemption for owner-occupied homes and manufactured homes, which are primary dwellings, which includes the value of your home and up to one acre of land.

How does it help me?

If you occupy your home and it is your primary residence.  The homeowners exemption allows 50 percent of the value of your home and up to one acre of land to be exempted, up to a maximum amount (2017 the amount is $100,000.)  Example:  if your home was assessed by the county to be valued at $200,000 the homeowners exemption would bring the value down to $100,000 and you would be taxed on only the $100,000 value.

How do I get the exemption?

If you purchase and occupy your home prior to April 15th of that current year and apply on or before that date and meet the other eligibility requirements you should receive the benefit.  If you fail to file the paperwork before the deadline you will not receive the benefit till the following tax year.  Filing the paperwork and getting receipt from the county that they received your paperwork is of utmost importance.  While shopping for homes there will be homes that do not have an exemption in place due to the home either being a rental or not the primary residence of the home owner.  In these cases your tax bill with likely be higher the first year you are in the home until you are able to file the exemption for the current year.  This distinction can be important because when applying for a loan it can affect the amount you qualify for since the taxes are calculated in your monthly payment.  Your real estate agent will be able to tell you if the home you are interested in has a homeowners exemption in place.


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