Tax Commission News Release
Land developers have until May 1 to claim new property tax exemption for site improvements
BOISE, IDAHO — April 16, 2012 — Residential and commercial land developers have until May 1 to apply for a new property tax exemption for site improvements, according to the Idaho State Tax Commission.
House Bill (HB) 519 amended Idaho law to exclude improvements such as roads and utilities from being taxed, as long as the land they’re on is owned by the same developer responsible for putting them in. If construction of other improvements, such as buildings, begins on the property or the land changes ownership, then the site improvements become taxable.
To be eligible for the exemption for 2012, developers must file an exemption application with both the assessor and commissioners of the county in which their property lies. For more information, developers should contact their county assessor.
Posted 04-16-2012
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