Yes. If you are a homeowner, you can apply for an exemption on the value of your owner-occupied primary residence, including a manufactured home. The exemption applies to fifty % (50%) of the value of the residence (including up to one acre of land) or $100,000, whichever is less. Taxes are computed on the nonexempt value. You may also receive the homeowner’s exemption on your home (not land) if you are paying occupancy taxes.
Applications are available from your county assessor’s office. When an application is approved, the exemption is continuous as long as you own and occupy the property. If the property is sold, the new owner must file a new application. There are no income or age restrictions, but you can qualify for an exemption on only one home at a time. You must own and occupy your home before April 15 of the current year and must apply for the exemption by April 15. You may also qualify for a property tax reduction (PTR-aka circuit breaker) if you meet the income requirements and fit one of the following categories:
- Age 65 or older
- Former POW
- Fatherless or Motherless Minor
- Qualifying Disabled Persons
- Income Requirement $29,640
Applications are available from your county assessor’s office and must be filed each year between January 1 and April 15. For more property tax information, please refer to the Idaho State Tax Commission.