April 3, 2024 (Bannock County Assessor’s Office, April 2, 2024; Cover photo credit: Bannock County)
Spring looks like it is on its way despite some snowflakes here and there. This is a busy time for us in the Assessor’s Office – both in the DMV and the appraisal department. People are getting ready to get outdoors, so they are registering their “fun” vehicles. Meanwhile, in the appraisal department, we are preparing our values to be finalized. Property assessment notices must be in the mail by the first Monday in June, which is June 3rd this year.
On the wall in my office, I have a “to-do list” (I love lists). On that list, there are big and small tasks we need to do to get ready for the assessment drive. Some of these are administrative, like ensuring all homeowners’, non-profit, and developers’ exemptions are in the system.
Homeowners’ exemptions come into our office daily from title companies or home buyers. We research those to make sure they don’t have a homeowners’ exemption on another property. If they do, we remove the second property’s exemption. The legislature actually addressed this issue with House Bill 449, which was signed into law in March and will go into effect in July. The new law penalizes anyone with more than one homeowner exemption with a fee, and any additional violations will be subject to a misdemeanor (you can read more about the law here).
Non-profit exemptions are exemptions that are filed annually by religious entities, benevolent organizations, etc. These applications are due on or before April 15th and are approved by the Board of Commissioners. If approved, the property value is removed from the assessment rolls and is tax-exempt for that year. We have around 100 different entities that apply for this each year.
The developers’ exemption, or Site Improvement Exemption, is given to developers for subdivisions and land that is being developed. We currently give them a 75% exemption on their parcels. We review these each year and as a parcel sells, the exemption is removed, and the new owner is taxed on the prorated portion.
These are only a few items on my list that we are currently working on. I have an amazing staff that does an excellent job working together to accomplish all the necessary things for the Assessment drive, and I’m so grateful for them.
Also, this is just a reminder that Property Tax Reduction applications are due April 15th. If you are eligible and have not yet applied, please call us at 208-236-7260 for help or questions.
Have a wonderful April!!
– Anita Hymas, Bannock County Assessor
