1 bill · 2017 Regular Session
Amends existing law to increase the maximum exemption from personal property tax from $100,000 to $250,000.
This proposal expands the current Personal Property Tax (PPT) exemption of $100,000 as provided in Idaho Code 63-602KK, to $250,000. The replacement amount will be based on 2014 personal property tax certification as provided by the county clerks to the Idaho State Tax Commission. Replacement funding will come annually from the state general fund through the sales tax distribution formula as provided in 63-3638, Idaho Code.