Attention Idaho Land Developers: Have You Applied for the 2012 Site Improvement Property Tax Exemption?

Title 63-602W Idaho Code became effective January 1, 2012 and will apply to the 2012 property tax year. This recent piece of legislation recognizes site improvements “that are associated with land, such as roads and utilities, on real property held by the land developer for sale or consumption in the ordinary course of the land developer’s business until other improvements, such as buildings or structural components of buildings, are begun or title to the land is conveyed from the land developer.”

In order to qualify for the 2012 tax exemption for site improvements installed and held as inventory, you must complete an application with the your county assessor’s office no later than May 1st, 2012.

For more information pertaining to the legislation, please go to http://1.usa.gov/IpSDIF

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