Idaho Gov. Brad Little signed House Bill 304 into law a bill that cuts property taxes by $100 billion every year.
The new law will shift $50 million to a state fund to reduce property taxes for Idaho homeowners while sending another $50 million to a state fund for school districts paying off their bond issues and levies.
The bill passed unanimously in both houses of the legislature. State Sen. Scott Grow (R-Eagle), one of the bill’s sponsors, estimated the average Idahoan homeowner would see a 14.6% reduction in their property taxes.
“I am proud to join my legislative partners, who championed this effort, in giving another $100 million in property tax relief to Idahoans on top of the more than $4.6 billion in tax relief we have delivered for Idahoans in a few short years,” said Little. “House Bill 304 offers additional support for our public schools while relieving the burden on local property taxpayers to cover the costs of bonds, levies, and plant facilities within the school districts. It is truly a win-win for all! This bill is yet another example of Idaho keeping our priorities straight.”
Photo: Gov. Brad Little (fourth from right) at the ceremony signing House Bill 304 into law; courtesy of the governor’s office
