The county mails out annual tax notices that list the assessed value of your property. If the property is your primary residence, you are generally granted a home owner’s exemption for 50% of the value up to $100,000. So a $100K home would have an assessed tax value of $50K, a $300K home would have an assessed value of $200k.

The State of Idaho has a Bond Levy Equalization Program (BLEP) that is funded from Lottery ticket sales and is used to help School Districts repay construction bonds. Cassia Jt. School District would be expected to receive $12.9M in BLEP payments over the 20 year repayment period. That means the BLEP would cover 44% of this Bond’s interest costs. Lotto sales, not local property tax payers will cover a significant portion of the interest.

If voter’s approve the construction bond, the projected tax impact will increase from the 2018 levy rate of .00293 to a levy rate of .00437 in 2019. This increase of .00144 equates to $1.44 for every $1,000 of taxable property.

Sample calculation:

$200K (Primary Residence) – $100K (Home Owner’s Exemption) = $100K (Taxable Value) x .00144 (Levy Rate increase) = $144/year or $12/month or $.40/day

The proposed levy rate increase of .00144 takes into consideration a conservative one-time tax base increase of $230M for the McCains expansion and NuCold Construction. It does not factor in any future growth in subsequent years.