Boise residents who are a part of Idaho’s property tax reduction program can expect a large break in their property taxes next year, thanks to a $1.2 million fund.
The city’s property tax rebate program, which is new as of this year, will give some property tax collections back to homeowners who are low-income, veterans, elderly, or disabled, per a BoiseDev report. Boise is the only city to take advantage of the state’s program so far.
The $1.2 million program will be open to roughly 1,200 Boiseans who were on the property tax reduction program as of April 2022, commonly known as the circuit breaker. The rebates are set to come out next year.
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If all eligible applicants apply, each could receive a $1,000 rebate. However, the rebates are set to only cover the amount of what someone owes in property taxes.
Applications for the rebates open in December and will remain open until May 2023. Eligible applicants must have an annual income for the year less than $32,230, own their home or mobile home, and be older than 65 or a veteran, a former POW, blind, disabled, or a widow/widower. Applicants must also be worth less than $800,000 as of 2022.
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“For these people, we don’t want their money in the first place,” Boise City Council Member Patrick Bageant said during a council work session “Anything we can do to not collect it and let them keep it is easier on us so we don’t have to issue checks and it’s easier on them because they get to keep their money.”
