A proposal intended to expand a property tax reduction to higher-valued homes to keep older, low-income Idaho residents in their homes headed to the full House on Wednesday.
The House Revenue and Taxation Committee approved the measure that alters a law passed last year by increasing the maximum value of a home that qualifies for the property tax reduction program, called a circuit breaker.
The circuit breaker is intended to shield older, disabled or widowed Idaho residents with fixed or limited incomes who can be put at risk of losing their homes due to soaring home values and rising property taxes.
The circuit breaker is based on income, with a maximum deduction of $1,500 available to those making less than about $13,000 annually. The cutoff is at about $32,000, with a $250 reduction.
A similar bill that would cover more low-income homeowners passed in a Senate committee on Tuesday and is being considered in the Senate.
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