Amends existing law to revise provisions related to the assessment of market value and the homestead exemption.

This legislation relates to property taxes and makes two changes. First, it provides that the burden of proof shifts on appeal from the taxpayer to the County Assessor if the increase in value exceeds ten percent (10%) of the value from the previous year, and the increase resulted at least in part from the assessor failing to use the required equalization methods. Second, it clarifies Idaho Code, which removed the April 15th homeowner’s exemption deadline for existing homes (properties going from rental to a primary residence). It does this by directing all 44 counties and the State Tax Commission to implement the homeowner’s exemption in a uniform manner by including the new formula (levy rates multiplied by the value of the home, either with or without the homeowner’s exemption, multiplied by the days of ownership, divided by 365 or 366 days).