$100 Million Property Tax Relief Signed into Law
Boise, Idaho – [March 26, 2025] – Governor Little signed House Bill 304, delivering $100 Million in ongoing property tax relief to homeowners across the state. While every mode of taxation has its downsides, the Senate Majority Caucus has focused principally on property tax reduction in our negotiations with the House this year.
"Idahoans work hard to provide for their families, and skyrocketing property taxes shouldn’t put homeownership out of reach,” said Senate Majority Caucus Chair Ben Toews. “This bill is a major victory for taxpayers. It reduces costs for homeowners, eases financial pressure on local communities, and upholds our commitment to responsible governance.”
How the State Can Advance Property Tax Relief
Property tax relief is a top priority of the Senate Majority Caucus, but the method of relief is complicated by the fact that these taxes are levied locally. To address this, we created the Homeowner Property Tax Relief Account and the School District Facilities Fund in 2023.
Homeowner Property Tax Relief Account: Offsets property taxes on homeowners’ primary residences.
School District Facilities Fund: Transfers funds to school districts which must then be deducted from a school levy that would otherwise have been paid by property taxpayers.
This year, H304 splits $100 Million between the two of these, all of which will end up back in taxpayers' pockets.
Delivering on Republican Priorities
The growth of the residential property sector has increased the urgency of property tax relief in the view of the Senate Majority Caucus. Residential property has taken on an increasing share of taxable value over the past decade, shifting more of the tax burden from the commercial and agricultural sectors onto homeowners. As property taxes are repeated taxation of the same asset, rising assessed values chip away at homeowners’ financial security and increase the difficulty of becoming a first-time homebuyer. This bill answers these trends with long-term relief.
As part of our broader tax relief package, this bill's $100 Million in property tax relief works alongside H231's grocery credit increase estimated at $50 Million and H40's approximately $253 Million in ongoing income tax reductions. This three-pronged relief package should save taxpayers well over $400 Million ongoing in property, grocery, and income taxes, keeping Idaho affordable and ensuring state government lives within its means.
“This isn’t just about cutting taxes; it’s about strengthening Idaho’s future,” said Senate Majority Leader Lori Den Hartog. “By keeping more money in the pockets of Idahoans and maintaining fiscal responsibility, we’re proving that conservative leadership works.”
With this victory for taxpayers, Senate Republicans reaffirm their commitment to policies that foster economic growth, support homeowners, and uphold fiscal responsibility. As Idahoans, we pride ourselves on the value of self-reliance, confident we will spend our own money better than the government would.
For more information, please visit the Idaho Senate Republican Caucus website: IdahoSenateGOPCaucus.com