Has anyone’s property tax gone up this year besides mine — my aggregate tax bill went up 6.2 percent? Current state law identifies the max that a taxing authority can raise property tax in a given year of around 3 percent.
Well, so much for the taxing authorities staying within the state statute and the intent of the law.
If a home has a current yearly property tax of $3,000 and the property tax inflates yearly by 6.2 percent, in 10 years the property tax due would be $5,475/year, that is a $2,475. increase.
I would suggest that the Idaho Statesman each November print a 10-year history of property tax increases by every taxing authority within Ada and Canyon counties. This 10-year history would shock the taxpayers. I would also suggest and request that the Legislature establish a new property tax levy rate limit of no more than 1 percent above the previous year’s property tax collections by all taxing units.
The Taxfoundation.org ranks Idaho 12 out of 50 on the individual income tax rate of 7.4 percent and yet Idaho ranks 49 out of 50 in per capital income. Lower the tax tables to a max of 5 percent.
GALEN R. KIDD, Boise