Home Sweet Home?

 

Homeowners in Fremont County may see an increase in property taxes again this year. The cost of homes continues to rise, causing the assessed value and therefore the amount of property taxes required to also rise. Extreme population growth as thousands flock to our beautiful home state has also caused an increased demand for housing, causing the prices of available homes to increase. 

"It is important to note it is the state that sets those property values, not the county, but it is our responsibility to process the data and uphold the code," County Assessor Carol Blanchard said.

When people are selling for more and more each year and others are willing to pay more and more for homes it drives the price of everything up. 

"We were found out of compliance in our Improved residential properties, even after the substantial increases that were made last year," Blanchard said. "The sales were completed and reported to us during that time reflect the need for an increase to our 2023 Improved residential properties."

In a letter given to homeowners in May of 2022 Blanchard explains the county requirements for changing values of homes depending on the market value. Anger toward the county is misplaced when they simply follow the Idaho statutes. 

"The assessor does not establish the market," Blanchard explained. "It is the buyers and sellers who determine the market."

As the continuous rise in prices threatens to strangle homeowners to the point of some even losing homes, Idaho legislators have bills in the house and senate in the hopes of loosening some of those tensions. 

Senate bill 1111, if passed, would put 4.5% of sales tax revenues towards property tax relief for homeowners. 

Senate bill 1107, if passed, would increase would raise income limits to help more low-income families to afford their property taxes through the Circuit Braker program. The program allows lower income families to take off anywhere from $250 to $1500 off of annual property tax owed.