“From that, you can say it’s probably be about 10 dollars per 100,000 as result of this property tax change,” Ada County Clerk Phil McGrane explained.
BOISE, Idaho — Last month, Ada County Commissioners voted to tentatively pass a $12 million property tax cut for the proposed 2022 fiscal budget.
On Wednesday, commissioners held a public hearing about the proposed budget.
“I’ve been informed it’s been a lot harder for previous board to come to a budget than it was for us this year,” Commissioner Ryan Davidson said.
Ada County Clerk Phil McGrane told KTVB that this is the first kind of tax cut in the county since 1980.
The $12 million property tax relief will mostly be funded by sales taxes, which was an economic swing that none of the commissioners anticipated.
“We expected about $5 million in sales tax last year. This year we’re projecting a $10 million increase just because we’re seeing so much revenue come in,” McGrane said.
With this cut, McGrane said property valued at $400,000 could expect to save about $44 on their property taxes.
“From that, you can say it’s probably be about 10 dollars per 100,000 as result of this property tax change,” McGrane explained.
With property values continuing to rise, McGrane said this relief won’t ensure every bill will be cheaper than before. He recommends to Ada County residents that they go onto to county’s website and use the budget explorer.
“You can type in $100,000, $200,000, and see what those estimated property taxes will be and what that compares to the prior year,” he said.
To find out more about how the tax cut would affect you, or a breakdown of your property taxes, click here.
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