Developer’s Site Improvement Exemption
Idaho has a Developer’s Site Improvement Exemption that applies to site improvements which include streets, curbs, gutters, utilities, etc. The lots are appraised as undeveloped land using values from current raw land sales.
How and When to Qualify and Apply for the Developer’s Site Improvement
Pursuant to Idaho Code 63-602W, an exemption from taxation may be granted on site improvements to land held in subdivisions. This exemption is available to the original developers holding lots for sale as inventory.
To receive the exemption an application must be filled out and submitted to the Assessor’s Office by May 1st 2012 and starting in the year 2013 and each year after the deadline for application will be April 15th.
Application must be made in writing on the form provided by the county. Use the Developer’s Site Improvement Exemption Form provided by the by the Assessor’s Office located at 547 N Capital Ave. See below for the PDF Developer’s Site Improvement Exemption form. Please use the second page provided to list each parcel number you wish to exempt. If you have any questions please contact one of our appraisers at 208-529-1361 or 547 N Capital Ave.
Maintaining the Developer’s Site Improvement Exemption:
Once an application is filed on a parcel, the exemption stays in place until it changes ownership or construction begins on building structures. When the parcel sells or construction begins the exemption will be removed and full assessment value will be placed on the lot. The taxes will be prorated on a quarterly basis when the exemption is removed as per Idaho Code 63-602Y.