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Idaho lawmakers are working on a solution to rising property taxes throughout the state, as homeowners seek relief, according to Channel 7KTVB.
"A lot of our citizens and constituents are being priced out of their homes," Rep. Gary Collins (R-Nampa) said. Nampa is the co-chairman for the working group, which is meeting before the start of the 2020 legislative session.
The news agency reported that Ada County resident Patrick Chapman addressed the committee, saying he moved to the county in the 1990s.
“We paid less than $200,000 for it at the time,” Chapman said.
Chapman's home has increased significantly in value over the last two decades, meaning his property taxes have also increased.
Several county officials from both urban and rural areas testified about how property taxes are used and urged lawmakers to exercise caution, as services could suffer.
“There are a couple areas we have been grappling with. These areas are our courts and our jail,” Twin Falls County Commissioner Dan Hall said. “Our jail facilities are part of our concern here.”
CoreLogic reported that Boise, Idaho, led the nation in home-price appreciation for the past 12 months. The appreciation rate for Boise in September rose 11.80%. Spokane-Spokane-Valley, Washington, was a close second at 11.2%, followed by Odgen-Clearfield, Utah (9%), St. Louis, Missouri-Illinois (8.80%), and Memphis, Tennessee-Arkansas-Mississippi (7.60%).
Idaho’s price growth has fueled the nation’s highest job and population growth. Its non-farm annual employment growth was 2.1% in August, higher than the nation’s 1.4% increase, and No. 7 among all states.
Idaho’s 2.1% population growth between July 2017 and July 2018 tied Nevada's as the nation’s highest. The overall U.S. growth rate during that same period is 0.6%, according to the U.S. Census Bureau estimates. Around 30% of all people moving to Idaho from another state in 2017 came from California, which is an increase from 23% during the peak of the last housing cycle in 2005.
Californians migrating to Idaho are seeking price relief, as the average home price in Idaho is $265,151—87% lower than the average California median-home price.
California had the lowest home-price appreciation are under 2%.
