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H 74

PROPERTY TAX RELIEF – Amends existing law to provide for property tax relief.

68th Legislature, 1st Regular Session (2025)

House Bill 74 allocates $100 million for property tax relief in Idaho, easing homeowner burdens and funding school facility improvements without raising taxes.

Reported Printed and Referred to Revenue & Taxation
#appropriations #buildings #funds #schoolsandschooldistricts #taxandtaxation #property #treasurer #state
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Bill Summary · H 74

Summary of House Bill 74: Property Tax Relief

Bill Overview

  • Bill Number: H 74
  • Title: Property Tax Relief
  • Introduced: January 28, 2025
  • Status: Reported Printed and Referred to Revenue & Taxation
  • Classification: Bill
  • Subject Areas: Appropriations, Buildings, Funds, Schools and School Districts, Tax and Taxation, Property, Treasurer, State

Purpose and Intent

House Bill 74 aims to provide significant property tax relief to residents of Idaho by allocating an additional $100 million in funding. This relief is intended to ease the financial burden on homeowners and support school districts in managing their facilities.

Key Provisions

  1. Funding Allocation:

    • The bill allocates $100 million for property tax relief, divided as follows:
      • $50 million will be transferred to the Homeowner Property Tax Relief Account from an expired account with excess cash.
      • $50 million will be directed to the School Facilities Fund, established in a previous legislative session (HB 292 of 2023).

  2. Amendments to Existing Law:

    • The bill amends several sections of the Idaho Code:
      • Section 33-911: Revises provisions regarding the School District Facilities Fund, ensuring funds are used for construction, renovation, and maintenance of school facilities.
      • Section 57-810: Establishes a process for cash transfers for property tax relief, detailing how excess cash balances in the general fund will be allocated.

  3. Emergency Declaration:

    • The bill includes a declaration of an emergency, allowing for immediate implementation of its provisions.

Impact

  • Homeowners: The bill is expected to provide direct financial relief to homeowners through the Homeowner Property Tax Relief Account, reducing their property tax liabilities.
  • School Districts: The allocation to the School Facilities Fund will assist school districts in funding necessary construction and renovation projects, thereby improving educational facilities without increasing property tax levies.
  • State Budget: The bill will result in a $50 million reduction in the State General Fund starting in fiscal year 2025 and continuing annually.

Procedural Aspects

  • The bill was introduced and referred to the Revenue & Taxation Committee on January 28, 2025.
  • It is currently under consideration, with further actions expected as it moves through the legislative process.

Conclusion

House Bill 74 represents a proactive approach to property tax relief in Idaho, addressing the financial needs of both homeowners and school districts. By reallocating existing funds and amending relevant laws, the bill seeks to enhance the quality of education while providing immediate financial support to residents.

Compiled from official sources — confirm details with the bill’s official record.

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