Idaho Counties Introduce their Own Bill to Repeal Personal Property Tax
BOISE, Idaho (AP) — Counties aim to dump Idaho’s personal property tax for 90 percent of businesses this year, according to a bill introduced in the House. The Idaho Association of Counties’ proposal, with its initial Revenue and Taxation Committee vetting Thursday, comes ahead of the planned unveiling of industry’s competing proposal Friday.
Seth Grigg, the county’s lobbyist, said its plan exempts the first $100,000 in personal property from taxation. The state would cover $20 million to replace revenue local governments stand to lose. Meanwhile, the Idaho Association of Commerce and Industry’s proposal would cut $120 million of the $141 million tax by 2020.
Alex LaBeau, its president, set the stage for a tough fight Thursday after the hearing, calling the county’s version “terrible policy” because it helps small businesses while neglecting large companies.