WeVote
Log In

Bill

Bill

H 304

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

68th Legislature, 1st Regular Session (2025)

House Bill 304 allocates $100 million annually for property tax relief in Idaho, benefiting homeowners and enhancing school facilities for better education.

Reported Signed by Governor on March 26, 2025 Session Law Chapter 175 Effective: 03/26/2025
#buildings #controller #state #funds #schoolsandschooldistricts #taxandtaxation #property
0
WeVote Research Nonpartisan
Bill Summary · H 304

Summary of House Bill 304 (H 304) - Property Tax Relief

Overview

House Bill 304 (H 304) aims to provide significant property tax relief to residents of Idaho, establishing a framework for ongoing financial support through dedicated funds. The bill was introduced on February 21, 2025, and was signed into law by the Governor on March 26, 2025, becoming effective immediately.

Purpose and Intent

The primary purpose of H 304 is to alleviate the property tax burden on Idahoans by allocating an additional $100 million annually for property tax relief. This funding is intended to support both school facilities and homeowner property tax relief accounts, thereby enhancing educational infrastructure while providing direct financial benefits to homeowners.

Key Provisions

H 304 includes several important changes to existing law:

  1. Funding Allocation:

    • Total Relief: $100 million in property tax relief will be distributed annually.
      • School Facilities Fund: $50 million will be allocated to the School Facilities Fund, which supports the construction and renovation of school facilities.
      • Homeowner Property Tax Relief Account: $50 million will be directed to the Homeowner Property Tax Relief account.

  2. Amendments to Idaho Code:

    • The bill amends Section 33-911 of the Idaho Code to revise provisions regarding the distribution of funds for school facilities.
    • It also amends Section 57-811 to establish the Tax Relief Fund, detailing how funds will be appropriated and distributed.

  3. Distribution Process:

    • Funds from the School Facilities Fund will be distributed to school districts based on average daily attendance, ensuring that resources are allocated equitably.
    • The bill mandates that the amount received from these funds must be deducted from property tax levies, preventing duplication of funding.

  4. Emergency Declaration:

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

Impact

  • Beneficiaries: The legislation will primarily benefit Idaho homeowners through reduced property taxes and improved funding for school facilities, which can enhance educational outcomes.
  • Fiscal Implications: The bill will reduce the State General Fund by $100 million starting in fiscal year 2025 and each year thereafter, reallocating these funds to support property tax relief initiatives.

Procedural Timeline

  • Introduced: February 21, 2025
  • Passed by House: March 4, 2025
  • Passed by Senate: March 18, 2025
  • Signed by Governor: March 26, 2025
  • Effective Date: March 26, 2025

Conclusion

House Bill 304 represents a significant legislative effort to provide ongoing property tax relief to Idaho residents while simultaneously supporting the infrastructure needs of the state's educational system. By establishing dedicated funding streams, the bill aims to create a sustainable approach to property tax relief that benefits both homeowners and school districts across Idaho.

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

Sign in to ask a question.