Wednesday, January 23, 2013

Personal Property Tax

In Dec. 2012 the Idaho State Tax Commission 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  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.
The 2012 Personal Property Tax Analysis is available on the Tax Commission’s website, and printed copies are available on request by emailing
   An Idaho partnership called Partnership for Idaho's Future has put together a short video on what the personal    property tax means for communities. There are two versions of the video, both can be accessed at the links below:

The partnerships goal is  to get information out to the public in an effort to educate everyone of the impacts of a personal property tax repeal without replacement funding. The video is very well done. Please take a few minutes to watch it and then share it with others in the community. We will need everyone's help to make sure the best tax policy is made at the state level. 

Again, this video is to be shared within our communities. Please forward it along to anyone you wish.