Tax & Accounting Blog

Idaho Tax Rule Changes For 2014

Blog, ONESOURCE, ONESOURCE Property Tax May 8, 2014

The Idaho Legislature has approved administrative rule changes that were adopted by the State Tax Commission in 2013 and submitted to the Legislature for review during the 2014 legislative session. The rule changes became final and effective on March 20, 2014 and included:

  • Revised method for determining the value of recreational vehicles. (Amended Idaho Admin. Rule §
  • Provided methodologies for valuing rate-regulated electric utility company operating property for tax assessment purposes. (New Idaho Admin. Rule §
  • Revised provisions applicable to hearings to review operating property appraisals. (Amended Idaho Admin. Rule §
  • Revised guidelines applicable to the reporting and listing of exempt personal property. (Amended Idaho Admin. Rule §
  • Defined oil and gas wells for purposes of the statutory tax exemption for such wells, and discusses ineligible land and equipment. (New Idaho Admin. Rule §
    • Clarified that the State Tax Commission generally cannot approve a property tax levy that has been computed based on a property tax budget amount that exceeds the amount stated in the notice of budget hearing. (Amended Idaho Admin. Rule §
    • Deleted provisions that required tax notices to be sent to taxpayers whose accounts have zero balances due to certain personal property exemptions. (Amended Idaho Admin. Rule §