Why Retire in Idaho?
Setting aside the wholesome lifestyle that Idaho provides, Idaho statutes allow for various property tax reduction programs. Consider buying investment property now and plan to occupy that home in your retirement to potentially save on your property taxes throughout those golden years.
Automatic Homestead Exemption
Idaho statute provides for an automatic Homestead Exemption which protects up to $50,000 of an owner’s equity in their primary residence against many forced sales.
Homeowner’s Exemption
Idaho statute provides for a Homeowner’s Exemption to reduce the tax liability on a property in which you own and occupy. This exemption is not automatic. To obtain your Homeowner’s Exemption, you must qualify and apply in the county which the property is located. Deadlines vary from existing to new construction.
Circuit Breaker
The Property Tax Reduction (Circuit Breaker) program reduces property taxes for qualified applicants who own and occupy their home. This exemption is not automatic and must be applied for on an annual basis. The amount of reduction is based on income for the previous calendar year. If you qualify, the property taxes on your home and up to one acre of land may be reduced by as much as $1,200.00. Some categories of qualification include: Age 65 or older, Widow(er), Blind, Fatherless or motherless child under 18 years of age, Former prisoner of war/hostage, Veteran, or Disabled.
(Certain detailed restrictions apply).
Bottom line is … you can FISH! 
Please contact Patty Bell & Company and the
County in which the property is located for any restrictions that may apply.
Click here to contact Patty or call (208) 880-1440
