STATEMENT OF PURPOSE
RS30728 / H0379
This legislation addresses the enormous inflation in property values, often caused when a neighbor sells a
property for an inflated price. Inflation in assessed values is causing a hardship for property owners. Assessed
value inflation results in a sudden increase in property taxes, and makes property taxes less predictable.
Presently, the value of property on January 1 of the tax year is used as the assessed value. This legislation
provides that the assessed value of all property will be based upon a 5 year rolling average of January 1
assessments. If the current assessed value is less than the 5 year rolling average, the current year value is
used. If a property usage is changed or the square footage of an improvement upon the property increased by
10%, then the new assessed value is used and subsequent values are used to compute the rolling average. If a
property is sold, the sale value is used as the assessed value and subsequent annual values are used to compute
the rolling average.
FISCAL NOTE
There is no fiscal impact to the general fund.
Contact:
Representative John Gannon
Representative Josh Tanner
(208) 332-1000
DISCLAIMER: This statement of purpose and fiscal note are a mere attachment to this bill and prepared by a proponent
of the bill. It is neither intended as an expression of legislative intent nor intended for any use outside of the legislative
process, including judicial review (Joint Rule 18).
Statement of Purpose / Fiscal Note Bill SOP/FN INTRODUCED: 03/29/2023, 12:01 PM


Statutes affected:
Bill Text: 63-208, 63-301A