Lawmakers seek to limit property taxes as home values soar
In this Idaho Capital Sun file photo, Rep. Jason A. Monks, R-Meridian, listens to debate on the House floor at the Idaho Capitol on April 6, 2021.
Otto Kitsinger for Idaho Capital Sun
Soaring home values have increased property taxes for millions of homeowners in recent years, prompting action from state lawmakers to lighten the burden.
“The biggest problem was they just went up so quickly. … I think that’s one of the reasons why it became this rallying cry from the people asking for tax relief,” said Idaho state Rep. Jason Monks, a Republican.
The typical home value in Idaho increased from $275,852 in November 2019 to $434,224 this November — a 57% increase over four years, according to data provided by real estate giant Zillow, which tracks the average of the middle one-third of home values.
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