Amends existing law to revise provisions regarding the burden of proof in assessments and to provide for the proration of the homestead exemption based on the change in status of a property.

This legislation relating to property taxes makes two changes. First, it provides that if a property taxpayer appealing their assessed value provides evidence that the assessment is not an accurate representation of fair market value, it has the effect of shifting the burden of proof back to the assessor. Second, it clarifies Idaho Code, which removed the April 15th homeowner’s exemption deadline for existing homes (properties going from a rental to a primary residence). It does this by directing that all 44 counties and the State Tax Commission implement the homeowner’s exemption in a uniform manner across Idaho by including the new formula of levy rates multiplied by the value of the home (either with or without the up to $125,000 homeowner’s exemption), multiplied by the days of ownership, divided by 365 or 366 days.