Homeowners Exemption Information for 2011
2011 HOMEOWNERS EXEMPTION INFORMATION
Kootenai County Assessor’s Office
Administration Building
451 Government Way
Coeur d’Alene, ID
WHAT IS THE HOMEOWNER’S EXEMPTION?
The Homeowners Exemption is an exemption provided by state law that saves the property owner money on their property taxes. This happens because the exemption deducts 1/2 of the assessed value of the buildings & the one acre home site, up to a maximum of
$92,040 or 50%, whichever is less.
This rate may be adjusted annually.
WHO QUALIFIES?
A property owner who occupies the home as their primary residence and is an Idaho resident.
HOW DO YOU QUALIFY?
- A valid Idaho drivers license (if you drive)
- Vehicle is licensed in Idaho (if you own a vehicle)
- If the property is in a trust, bring the entire trust with you
- Registered Idaho voter (if you vote)
- If you file income tax; at the appropriate time the property owner
- Would file a full year Idaho resident income tax return
- You reside in Idaho for a majority of the year
WHEN DO I FILE?
- On new construction the owner must apply within thirty (30) days of purchase.
- On existing homes the deadline for applying is April 15th of the year that you occupied the home.
WHERE DO I FILE?
The Homeowners Exemption Applications are available, and must be filed in the Assessor’s Office. The Assessor’s Office is located at 451 Government Way on the main floor of the Administration building, next to the information desk.
FOR FURTHER ASSISTANCE ~
Call the Assessor’s Office at (208) 446-1513
E-mail bwilliams@kcgov.us
Revised
Thank you, Pioneer Title Company for this timely information!
Good News: Existing Home Sales Jump
As you wander through life,
whatever be your goal,
keep your eye on the donut
and not on the hole!
-Sign in the Mayflower Coffee Shop, Chicago
This quote came to us through our Windermere Coeur d’Alene Realty newsletter this week, and we thought you would appreciate it.
It’s also a great introduction to the Market News that we want to pass along to you today. It’s GOOD NEWS, especially in the context of the news of recent years.
Daily Real Estate News | January 20, 2011
REALTOR® Magazine-Daily News-December Existing-Home Sales JumpExisting-home sales rose sharply in December, when sales increased for the fifth time in the past six months, according to the National Association of REALTORS®.
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 12.3 percent to a seasonally adjusted annual rate of 5.28 million in December from an upwardly revised 4.70 million in November, but remain 2.9 percent below the 5.44 million pace in December 2009.
Lawrence Yun, NAR chief economist, said sales are on an uptrend. “December was a good finish to 2010, when sales fluctuate more than normal. The pattern over the past six months is clearly showing a recovery,” he said. “The December pace is near the volume we’re expecting for 2011, so the market is getting much closer to an adequate, sustainable level. The recovery will likely continue as job growth gains momentum and rising rents encourage more renters into ownership while exceptional affordability conditions remain.”
The national median existing-home price for all housing types was $168,800 in December, which is 1.0 percent below December 2009. Distressed homes rose to a 36 percent market share in December from 33 percent in November, and 32 percent in December 2009.
“The modest rise in distressed sales, which typically are discounted 10 to 15 percent relative to traditional homes, dampened the median price in December, but the flat price trend continues,” Yun explained.
We’ve been focusing on the donut instead of the hole – and we’ve already closed several transactions in 2011!
We have strategies that WORK! We can help you buy or sell real estate this year. Call us Today!
Randy or Christy Oetken
208-660-0506
Build Your Custom 5+ Acre Estate: NEW 2011 Lot Pricing
Selkirk Meadows 5+ Acre Parcels
30+ Parcels are available!
We have Builder Packages
-or-
Bring your own builder!
New 2011 Lot Pricing – starting at $69,900
$69,900 4.51 Acres
$69,900 4.78 Acres
- extensive knowledge of the building industry
- an impressive list of professionals whom we’ve come to trust over the years
- years of experience in guiding our clients through all kinds of Real Estate transactions
We are uniquely qualified to help you build your home.
As REALTORS®, we’ll help you through every phase of building your house, so you can build your life. We can help you find Builders, Floorplans, and Land for your Dream Home or Estate.
Call Randy Oetken 208-660-0518
Check it out at www.RealEstate-Browser.com
View more of OurListings
Mortgage Interest Deduction: WE SUPPORT IT!
Mortgage Interest Deduction? OF COURSE!
We’re with Lawrence Yun, of the National Association of Realtors:
It’s a common misperception that the mortgage interest deduction benefits primarily the wealthy, as argued in the Washington Post’s January 1 editorial, “Trim the Excessive Tax Subsidy for Real Estate.”
In fact, the MID actually benefits primarily middle- and lower income families. Sixty five percent of families who claim the MID earn less than $100,000 per year, and 91 percent who claim the benefit earn less than $200,000 per year. As a percentage of income, the biggest MID beneficiaries are younger middle-class families.
The MID helps many families become home owners by reducing the carrying costs of owning a home. The ability to deduct the interest paid on a mortgage can mean significant savings at tax time. For example, a family who bought a home last year with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 5 percent, could save nearly $3,500 in federal taxes when they file next year. That’s real money they can use to pay down other debts, save for their children’s college education, or put away for retirement.
It’s no wonder, then, that most Americans support the MID. In fact, in a recent NAR survey by Harris Interactive of 3,000 home owners and renters, nearly three-fourths of home owners and two-thirds of renters said the MID was extremely or very important to them.
Unlike the very rich, much of whose wealth is tied to the stock market, the wealth of most middle-class American families is connected to their home. Millions of these Americans bought their homes with the understanding that mortgage interest is tax-deductible, and many of them have steadily paid down their mortgages to build equity in their home. Eliminating or reducing the MID would destroy part of this hard-earned equity for all home owners, independent of their tax filing status.
Furthermore, we also need to be mindful that home owners already pay 80 percent to 90 percent of U.S. federal income tax, and this share could rise to 95 percent if the MID is eliminated. Proposals that would remove certain tax benefits in return for lower tax rates just may hold for one or two terms of Congress before the tax rates are changed again. Americans are not naïve; they understand the nature of Washington politics.
For people who don’t have hundreds of thousands of dollars in savings to buy a home outright, tax benefits like the MID help them begin building their futures through home ownership…
We’d like to know what YOU think! Take our poll!
“Do You Support the Mortgage Interest Deduction?”
Comments are open, and we hope you’ll express your opinion! We’d love to hear from you.
Browser’s Friends in Cougar Gulch
Browser wants to give a “Howl-Out” to our new friends in Cougar Gulch area. We sold them this property last year, and we were so pleased to receive their Christmas Card last month. Here are the pictures of their beautiful family enjoying Christmas in their new home!
We would LOVE to help you find your dream home! With low interest rates, abundant choices, and low prices, now is a great time to buy.
Let us help you Own The Lifestyle.
Visit Browser’s Photo Gallery of all his Friends on his Facebook Fan Page “Browser’s BFF’s“
Market News: 2011 Real Estate Market Forecast
ON THE LEVEL: Save Money on Utility Bills This Winter
Here’s some more great stuff from our friends at Hibbard Construction.
Our summer tans have long since faded, the patio furniture and BBQ grill have been stored and the first winter snowfall has already hit the Treasure Valley. It is safe to say winter has officially arrived and for many so have enormous heating costs.
The television and web are full of great ideas on how to save money on energy costs, but more often than not it takes money to save money. Over the course of building homes for the last 40 years, Hibbard Construction employs building practices to ensure the energy efficiency of our homes.
In 2009, we conducted a survey of our past clients from the last 15 years and inquired about the energy costs of their “Hibbard Home”. We were delighted to learn that our homes are still some of the most energy efficient homes built and that our customer’s energy costs are still well below the average cost of most homeowners with similar sized homes.
For many, making the initial investment on an energy efficient new home or on major home improvement projects to make a home more energy efficient just isn’t in the cards this year.
But, that doesn’t mean you are out of options. There are some simple things you can do to cut your heating costs. Below you will find nine tips on how to save money on energy bills without breaking the bank. Each tip should cost from nothing to very little. With a little ingenuity you can reduce your heating bills this winter.
1. Bundle up! Running around with shorts and a tank top in the middle of winter just doesn’t make much sense. Winter is winter because it is cold, so act like it even if you’re just sitting around the house. Put on a sweater or sweatshirt; wear socks and fuzzy slippers (who isn’t more comfortable in their favorite sweats anyways?). Place a soft, comfy blanket on the couch to cuddle up in while watching TV, reading or chatting with friends. Put throw rugs on hardwood and tile floors to eliminate the shock of the ice-cold surfaces. It doesn’t cost anything to wear warmer clothes inside and by doing so you can keep the temperature inside the house a few degrees cooler and save big.
2. Not all doors and windows are created equal and not all are used in the winter, so plastic up the windows and doors that are going to go unused. There are window kits for sale for about $5 per window. These can help to eliminate drafts to keep in the heat!
3. Turn the heat down at night and when no one is home. This doesn’t mean turn the heat to 40 degrees, but turning it down to 60 overnight or while you’re away can make a big difference. Think about it; why keep it 70 degrees when you’re either sleeping (add an extra blanket to your bed) or out of the house for more than 12 hours a day? You can adjust the thermostat manually for free, but if you want to spend a few bucks a programmable thermostat is a great investment.
4. After baking cookies or making dinner in the oven, leave the door open a crack. There’s a lot of heat in that oven, so letting it escape puts the heat to good use by warming up the kitchen and surrounding rooms. This means the furnace has to run a little bit less.
5. Use a space heater only in the current room you are occupying (remember to use caution with space heaters, as they are a very common source of home fires). This will take the nip out of the air to make you feel more comfortable without heating all of the other rooms in the house and wasting energy.
6. Use silicone to fill any cracks in doors, windows, etc, including the basement floor and walls. You would be surprised at how much heat is lost through cracks that seem insignificant. A tube of caulk or silicone will only run you a few dollars and, it’s an easy weekend project.
7. Close any vents going to rooms that are not used regularly. That guest room that sits empty when you don’t have any guests? Close the door and the vents. Doing so, can easily cut 100-200 square feet off of your energy footprint.
8. Put weather stripping around windows and doors. Weather stripping helps quite a bit, especially in older homes. You’d be surprised how the seals around your doors and windows can deteriorate over time.
9. Cover up the attic entry with plastic, pieces of insulation, old blankets, weather stripping, saran wrap, painter drop cloth, or even a few old shirts. Any of it will help to slow, if not, stop, the drafts and warm air from floating away through your roof. Heat rises and may be getting pulled right up through the attic so you may not notice a cold draft even though your expensive hot air is floating away.
These tips won’t save you thousands like installing all new energy efficient windows would. But they will help you to save as much as possible and make a noticeable difference on your heating bill and take but a few minutes and maybe a few dollars to implement.
We would look forward to hearing from you regarding questions you may have or discussing ideas and developing a plan that would fit your budget if you are looking to make energy efficient improvements to save more money in the long run.
We’re giving away FREE TURKEYS: Do you know someone in need?
A recent Windermere food drive produced such overwhelming community response that the Food Bank has approximately 100 turkeys that need to be given away as soon as possible.
If you know of someone who might need a free turkey, please call like a turkey:
- Please respond by 4pm TODAY (Tuesday)
- Pick it up from the CDA Windermere office, (TOMORROW) Wednesday the 22nd by 10AM
· Please remember to come pick it up on Wednesday morning because we do not have a space to store the turkey for you.
Please call or e-mail us by 4PM Today!
208-660-0506





