This bill amends Section 63-301A of the Idaho Code, which pertains to the assessment of new construction for taxation purposes. The key changes include the introduction of new provisions that allow for the inclusion of certain taxable market value increases in the new construction roll, specifically for fire protection districts and ambulance service districts that are not subject to financing provisions of an urban renewal revenue allocation area. The bill clarifies that these districts can include eighty percent of the increment value for new construction, even if it is located within a revenue allocation area, thereby expanding the scope of properties that can be assessed for taxation.

Additionally, the bill establishes that the taxable market value of new construction will not include properties that have been granted a provisional property tax exemption or those that have received an exemption from sales and use tax. The legislation declares an emergency, making it effective immediately upon passage and retroactively applicable to January 1, 2026. This retroactive application aims to ensure that the new provisions are in place for the upcoming tax assessments.

Statutes affected:
Bill Text: 63-301A