Idaho Tax Commission sets 2013 homeowner's exemption

BOISE - The maximum homeowner's exemption for 2013 will decrease to $81,000, according to calculations by the Idaho State Tax Commission. The maximum exemption for 2012 is $83,974.

"The decrease is smaller than last year's," said Alan Dornfest, property tax policy supervisor for the Tax Commission. "This reflects the fact that housing prices trended downward, but at a slower pace than last year."

Idaho provides a partial property tax exemption to qualified homeowners for their primary dwelling and 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.

Dornfest said there would be no change in the amount of the homeowner's exemption for anyone whose home has a 2013 market value under $162,000.