FILE – In this Feb. 26, 2018, file photo, an American flag hangs inside the rotunda of the Idaho Capitol in Boise, Idaho. (AP Photo/Kimberlee Kruesi, File)
BOISE, Idaho (AP) — Idaho Gov. Brad Little has signed a property tax relief bill that opponents describe as deeply flawed but supporters say is better than nothing.
The Republican governor on Wednesday approved the legislation that lawmakers rushed through last week. The law takes effect immediately, with significant portions retroactive to Jan. 1.
The measure raises the homeowner’s exemption from $100,000 to $125,000. It also raises a property tax reduction for qualifying low-income seniors from $1,320 to $1,500. Businesses get a boost on their property tax exemption from $100,000 to $250,000.
Opponents say the bill will cut into essential services provided by local governments by limiting tax revenue on new construction.