The Idaho Property Tax Relief Act of 2006 was passed on August 25, 2006. It was proposed by Idaho governor Jim Risch to be addressed in a special session of the Idaho Legislature.
The legislation in theory would do the following:
- Reduce property taxes by $260 million by eliminating the public schools maintenance and operation levy on Idaho real property. About 60% of the tax relief would go to businesses, 40% to residential property owners.
- Raise the Idaho sales tax $210 million, to six percent, effective October 1, 2006
- Place $100 million into the Public Education Stabilization Fund; and
- Place an advisory question on the November general election ballot asking Idaho voters if they agree with the property tax relief adopted by the legislature in August
In May, 2008, state economist Mike Ferguson estimated that the net tax cut was about $30 million.
Famous quotes containing the words property, tax, relief and/or act:
“By avarice and selfishness, and a groveling habit, from which none of us is free, of regarding the soil as property, or the means of acquiring property chiefly, the landscape is deformed, husbandry is degraded with us, and the farmer leads the meanest of lives. He knows Nature but as a robber.”
—Henry David Thoreau (1817–1862)
“But the tax collector, standing far off, would not even look up to heaven, but was beating his breast and saying, ‘God, be merciful to me, a sinner!’”
—Bible: New Testament, Luke 18:13.
“The basis of successful relief in national distress is to mobilize and organize the infinite number of agencies of self help in the community. That has been the American way.”
—Herbert Hoover (1874–1964)
“All conservatives are such from personal defects. They have been effeminated by position or nature, born halt and blind, through luxury of their parents, and can only, like invalids, act on the defensive. But strong natures, backwoodsmen, New Hampshire giants, Napoleons, Burkes, Broughams, Websters, Kossuths, are inevitable patriots, until their life ebbs, and their defects and gout, palsy and money, warp them.”
—Ralph Waldo Emerson (1803–1882)