Tax Commission News Release
Idaho’s first comprehensive personal property tax report just released
BOISE, IDAHO — Dec. 18, 2012 — The Idaho State Tax Commission has released its first comprehensive study of business personal property, in preparation for the 2013 Legislative session. In Idaho, property tax usually applies to real property (land and buildings), business personal property (furniture and equipment), and operating property (public utilities and railroads).
The 51-page study reports on personal property by taxing district. There are 964 Idaho taxing districts that levied taxes in 2012; these included cities, counties, and everything from library districts to cemetery districts. The report shows each district’s total amount of property tax and the amount of personal property tax attributed to locally assessed property and operating property. Total personal property tax for Idaho amounts to $140.9 million for 2012.
This first-of-its-kind study was conducted with “a lot of cooperation and help from the counties,” said Alan Dornfest, property tax policy supervisor for the Tax Commission, who added that the agency is trying to help prepare legislators for the discussions they’ll be having about personal property tax in coming weeks.
“There’s been so much talk about exempting personal property,” said Dornfest. “It’s important that the policymakers have the information to make an informed decision on this issue.”