State Tax Revenue Growth Slowing
The State of Idaho released tax collection numbers for the first quarter of state fiscal year 2023 and the results paint a mixed picture. While overall state tax revenues are up compared to the same quarter last year, the growth in state tax collections came in 2% below forecast. Of note to counties, sales tax …
US Treasury Announces LATCF Payments to Counties
On Thursday, September 29th, the US Treasury announced Local Assistance and Tribal Consistency Funds (LATCF) payments to counties. The LATCF was established through the American Rescue Plan Act (ARPA) and provides $1.5 billion in payments to counties over two years. LATCF funds can be used as general fund revenues for any county purpose except lobbying …
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State Sales Tax Collections Remain Strong through August
The State of Idaho recently released its September 2022 Idaho General Fund Revenue Report (available here). For the second month in a row, state general fund revenues fell short of predicted revenues. Individual income tax collections once again were less than the same month of the prior year (down 10% compared to last August). For …
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From the Executive Director: Week of March 7
House Introduces Major Property Tax Reform Legislation On Friday, March 4th, the House Revenue and Taxation Committee introduced House Bill 741 exempting owner-occupied residential property from paying most property tax levies. House Bill 741 is sponsored by House Majority Leader Mike Moyle (District 14, Ada County) and Senate Local Government and Taxation Committee Chair Jim …
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From the Executive Director: Week of February 28
Major Property Tax Relief Legislation on Tap for Introduction After weeks of speculation and the cancelation of multiple introductory hearings, major property tax relief legislation is set to be unveiled later this week. While an introductory hearing has yet to be set, legislators are tying up loose ends in preparation of making the bill public. …
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From the Executive Director: Week of February 21
Major Property Tax Relief Package on Tap The House Revenue and Taxation Committee is poised to introduce a property tax relief package that will alter how local governments are funded. Under the framework, anyone who owns a residential property and receives the homestead exemption would be exempt from paying nonexempt property taxes to counties, cities, …
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