Idaho Bills

Amends existing law to revise urban renewal statutes and their effect on property taxation when annexation or plan modification occurs; and to provide that the new construction roll shall include increases in valuation caused by the removal of the agricultural tax exemption from undeveloped agricultural land within a revenue allocation area.

Thepurposeofthislegislationistorevisethedefinitionofbaseassessmentrollasitrelatestourbanrenewal. Provide that failure to submit required attestation to the State Tax Commission will result in resetting of the base value and to provide that the new construction roll shall include increases in base value due to increases in valuation caused by the removal of the agricultural tax exemption from undeveloped agricultural land within a revenue allocation area.