The Idaho Center for Fiscal Policy has released a new report that documents the potential impacts of personal property tax exemption from a taxpayer perspective. This report is complimentary to Idaho Tax Commission report EPB0703_01-15-2013 that was originally released on December 18, 2012. The Tax Commission report documents the potential impacts of personal property tax exemption from a taxing district perspective.

Operating property (utilities, railroads, pipelines) impacts are provided on a statewide basis, with the top 10 companies (by tax exemption) listed separately. Locally assessed company impacts are shown by county, with the top 10 companies (by tax exemption) listed separately (for the full exemption scenario).

One of the key findings of this report is the high degree of concentration associated with the full exemption option. Within the operating property category, the top 10 companies account for 82.5% of the total impact (statewide basis). Within the locally assessed category the top ten companies in each county account for a low of 25.6% (Kootenai County) to a high of 92.5% (Custer County). In 26 Idaho counties the top ten companies account for over half the countywide tax reduction in the full exemption scenario.

The two tables shown for each of Idaho’s 44 counties show, respectively, the impact in terms of a) property tax reduction under a full exemption scenario (IACI’s proposal), and b) property tax reduction under immediate implementation of 2008’s HB599a, the $100,000 exemption for every locally assessed company. The $100k exemption option is currently in statute but waiting to be triggered (under current law General Fund revenue must reach $3.053 billion before the $100k exemption takes effect).

Here’s the link to the report in pdf format:

Personal Property Taxpayer Impacts