US Laws, Codes, Statutes & Cases

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 3
                   ASSESSMENT OF REAL AND PERSONAL PROPERTY
    63-314.  COUNTY VALUATION PROGRAM TO BE CARRIED ON BY ASSESSOR. (1) It
shall be the duty of the county assessor of each county in the state to
conduct and carry out a continuing program of valuation of all taxable
properties under his jurisdiction pursuant to such rules as the state tax
commission may prescribe, to the end that all parcels of property under the
assessor's jurisdiction are assessed at current market value. In order to
promote uniform assessment of property in the state of Idaho, taxable property
shall be appraised or indexed annually to reflect current market value. In
order to achieve this goal, all taxable property in a county shall be
appraised at least once every five (5) years, except as provided in subsection
(6). Beginning in 2003, or year one (1) of any five (5) year cycle not less
than fifteen percent (15%) of the taxable properties in the county shall be
appraised during that year; by the end of year two (2) not less than
thirty-five percent (35%) of the taxable properties in the county shall have
been appraised during that year and the previous year; by the end of year
three (3) not less than fifty-five percent (55%) of the taxable properties in
the county shall have been appraised during that year and the previous two (2)
years; by the end of year four (4) not less than seventy-five percent (75%) of
the taxable properties in the county shall have been appraised during that
year and the previous three (3) years; and by the end of year five (5) all one
hundred percent (100%) of the taxable properties within the county shall have
been appraised during that year and the previous four (4) years. Annually, all
taxable property, not appraised that year, shall be indexed to reflect current
market value for assessment purposes using market value property transactions
and results of the annual appraisal of taxable property. The county assessor
shall maintain in the respective offices sufficient records to show when each
parcel or item of property was last appraised. The appraisal required by this
section shall include a plan outlining the continuing valuation program. Said
plan shall be submitted to the state tax commission for approval on or before
the first Monday in February, 1997, and no less frequently than every fifth
year thereafter. The state tax commission shall not approve any plan that
fails to provide for adequate appraisal and valuation of all taxable
properties in any county.
    (2)  The state tax commission is hereby authorized, empowered and directed
to promulgate rules for the implementation of this program, and to provide any
such county assessor with such supervision and technical assistance as may be
necessary.
    (3)  The county commissioners of each county shall furnish the assessor
with such additional funds and personnel as may be required to carry out the
program hereby provided, and for this purpose may levy annually a property tax
of not to exceed four-hundredths percent (.04%) of the market value for
assessment purposes on all taxable property in the county to be collected and
paid into the county treasury and appropriated to the property valuation fund
which is hereby created.
    (4)  If compliance with the requirements of subsection (1) is not
obtained, or if any county fails to meet the goals set in subsection (1), the
state tax commission may proceed as required by section 63-316, Idaho Code. If
a county fails to meet the timelines in subsection (1), the state tax
commission shall require a remediation plan.
    (5)  As used in this section the term "adequate appraisal and valuation of
all taxable properties in any county" means a process which includes a field
inspection of not less than the number of taxable properties necessary to meet
the requirements of subsection (1). Appraisal also includes collection,
verification and analysis of market value sales, applicable income and expense
data and building cost information, and application of this information to
predict market value.
    (6)  The board of county commissioners may request that the Idaho state
tax commission grant an extension of the five (5) year reappraisal deadline
set forth in subsection (1). The request shall be in writing and shall set
forth the reason(s) that the county is unable to complete the reappraisal
process as required by subsection (1) and shall set forth the measures the
county will undertake in order to complete the reappraisal program within the
extension of time requested. In no case shall an extension exceed two (2)
years. The state tax commission may approve or deny any request for an
extension and shall notify the board of county commissioners of its decision
in writing. The state tax commission shall not approve any extension absent a
showing by the county of extraordinary circumstances. Extraordinary
circumstances may include, but are not limited to, natural disasters or
unforeseen circumstances that result in extreme financial hardship to the
county. Circumstances that will not qualify for an extension may include, but
are not limited to, failure to adequately fund the county valuation program as
provided by this section, malfeasance, or mismanagement by a current elected
official. The state tax commission shall not grant the extension provided in
this section if studies conducted by the commission indicate that any category
of property affected by such extension is not assessed at market value.
    (7)  The Idaho state tax commission shall report back to the Idaho house
of representatives revenue and taxation committee and the senate local
government and taxation committee whenever an extension authorized under
subsection (6) is granted.