S.1216

Idaho S1216 amends House Bill 354 to revise rules for determining property market value for assessment purposes.

Idaho S1216 amends House Bill 354 to revise rules for determining property market value for assessment purposes. It mandates that assessors find market value for all taxable property using recognized appraisal methods. The actual and functional use of the property must be a major consideration. The rules require the assessment to reflect, within reasonable statistical certainty, the median ratio of assessed value to market value for the categories of property being tested within a range of ninety percent (90%) to one hundred ten percent (110%).