Nearly 1,400 Bannock County residents applied for Property Tax Reduction program in 2023

BANNOCK COUNTY, Idaho (KIFI) - Bannock County Assessor Anita Hymas announced nearly 1,400 Bannock County residents applied for the Property Tax Reduction (PTR) program in 2023.

Hymas, who began her first term as Assessor in January 2023 and has worked in the office for more than 40 years, said she’s excited to see more people taking advantage of the tax relief option.

“We worked really hard this year to get the message out about this program, so it’s great to see that payoff,” Hymas said.

The Assessor’s Office received 1,397 applications for the PTR program, previously known as the “circuit breaker,” which is about 150 more than the previous year.

The Idaho Legislature passed a property tax relief bill during the 2023 session that expanded the PTR program’s income requirements. Now, seniors, widows or widowers, and people recognized as disabled by Social Security may be eligible for the tax relief if they made $37,000 or less in 2022.

“We don’t know how many of the people who applied will actually qualify yet, because those are approved by the State Tax Commission, but I’m excited that more people who need this assistance will receive it,” Hymas said.

Qualified homeowners can save up to $1,500 through the Property Tax Reduction program. Applicants must apply for the program each year. If approved, the reduction in property taxes will appear on the applicants’ December 2023 tax bill.