vision2020
Re: Timber relief
Summary of Tax Shift to Non-Timberland Property Resulting from
Timber Value Change Effect of Taxes on Property with $100,000
Taxable Value
County: Latah
Current Tax in 1999: $1,248.70
1st Year Tax in 2000*: $1,260.21
Difference: $11.51
Current System 2005: $1280.28
Difference from 1999: $31.58
Proposed Tax in 2005: $1,291.42
Difference from 1999: $42.72
Difference 5th Year Current Law from Proposed Law: $11.14
* Current or Proposed Law
1. Based upon typical rural property tax rates exclusive of school M & O.
2. Assumes no growth in property tax portion of taxing district budgets.
3. Assumes no change in taxable of non-timber property.
From: http://www3.state.id.us/oasis/H0513.html
HOUSE BILL NO. 513, As Amended in the Senate...
Hope this helps.
Philip Cook
Date forwarded: Mon, 27 Mar 2000 19:30:01 -0800 (PST)
From: "John Danahy" <JDANAHY@turbonet.com>
To: "Vision2020" <vision2020@moscow.com>
Subject: Timber relief
Date sent: Mon, 27 Mar 2000 19:24:21 -0800
Forwarded by: vision2020@moscow.com
> I have seen several stories in regards to a timber land property tax relief
> bill making its way through the state legislature this year. As I
> understand it, the intent is to provide relief to the timber industry by
> lowering the amount of property taxes the industry pays to local entities.
> The state legislature accomplished this by redefining how timber land is
> assessed, in essence lowering the assessed property value of the land. By
> doing so, the state legislature avoided having to spend any general fund
> monies for the relief.
>
> If here in Latah county the timber land is assessed at a lower value, then I
> will end up paying more in local property tax to make up for the lower
> revenues generated by the timber lands.
>
> Does any one know how this will affect the property tax payers in Latah
> County?
>
> Perhaps Tom or Shirley have some information for us on the impact this
> legislation will have on Latah County property tax payers?
>
> Any one from the assessors office know?
>
> John
>
> John and Laurie Danahy
> jdanahy@turbonet.com
>
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