The Idaho Property Tax Relief Act of 2006 was passed on August 25, 2006.
It was proposed by Idaho governor
Jim Risch
James Elroy Risch ( ; born May 3, 1943) is an American lawyer and politician serving as the junior United States senator from Idaho since 2009. A member of the Republican Party, he served as lieutenant governor of Idaho under governors Dirk Kem ...
to be addressed in a
special session
In a legislature, a special session (also extraordinary session) is a period when the body convenes outside of the normal legislative session. This most frequently occurs in order to complete unfinished tasks for the year (often delayed by confli ...
of the
Idaho Legislature
The Idaho Legislature consists of the upper Idaho Senate and the lower Idaho House of Representatives. Idaho is divided into 35 legislative districts, which each elect one senator and two representatives. There are no term limits for either cha ...
.
The legislation would do the following:
*Reduce property taxes by $260 million by eliminating the public schools maintenance and operation levy on Idaho real property. About 60% of the tax relief would go to businesses, 40% to residential property owners.
*Raise the Idaho sales tax $210 million, to six percent, effective October 1, 2006
*Place $100 million into the Public Education Stabilization Fund; and
*Place an advisory question on the November general election ballot asking Idaho voters if they agree with the property tax relief adopted by the legislature in August
In November 2006, the Act was overwhelming approved by voters with 72% voting in favor.
In May, 2008, state economist Mike Ferguson estimated that the net tax cut was about $30 million.
References
{{reflist
Idaho statutes
2006 in American law
2006 in Idaho