Property Tax Homeowners Exemption – North ID Homes Blog
Homeowners Exemption in Idaho is a program were you are able to save money on your property taxes if you occupy the home as your primary residence. If you purchase a home in Idaho you are able file the homeowners exemption (if you would like) right after you close on it.
How Homeowners Exemptions works: You get either 50% of your accessed value or $100,000 off of the taxable value- whichever is less. So lets say you purchase a home and it is assessed at $150,000 -if you went in and applied for the exemption your taxes would be assessed on $75,000. In another sceneries- if you purchase a home and the assessed value you was $400,000 and you applied for the Homeowners exemption your taxes would be assessed on $300,000.
This can make a big difference on how much money every year you will be paying for taxes. It is worth it to go down and file. I have attached the website for the Kootenai County Homeowners Exemption page if you would like more information.