YPN Pub ‘n’ Putt Benefits RPAC

Calling all “Wild West” foursomes!

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Sink a hole-in-one for RPAC by wrangling your foursome together to putt your way through Humpin’ Hannah’s winding “Wild West” putt-putt course. Don’t forget your Western-wear…there will be prizes for the best outfit & more! All proceeds support the REALTOR® Political Action Committee (RPAC).*

Saturday, April 9th at Humpin’ Hannah’s in downtown Boise.
Registration is from 3-3:30pm. Tee-off is at 3:30pm
Teams of (4) = $100
Individual Players = $25

Fill out your registration form and submit it via email to Angela Gibson. See you there…in your Western-wear!

Learn more about Sponsorship Opportunities.

*RPAC contributions are not tax deductible for income tax purposes. Contributions to RPAC are voluntary and are used for political purposes. 

Idaho Homeowner’s Exemption Aims to Create Stable Tax Base

On Tuesday, March 8th the Idaho Senate voted to approve HB431 sending it to the Governor’s desk for signing into law. The bill changes the Idaho Homeowner’s Exemption to a set amount of $100,000, rather than tying it to the Federal Housing Price Index.

What is the Federal Housing Price Index?

According to the Federal Housing Finance Agency (FHFA) which manages the index, “The HPI is a broad measure of the movement of single-family house prices. The HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties.” However, due to how the Index is calculated, there is an 18-month lag in reflecting actual economic conditions.  Therefore, when there are drastic changes in the market—as we experienced in 2008—the Index is not an accurate reflection of prices. Additionally the current tax law shifts the property tax between the different property categories. For example, when residential taxes are up agriculture, commercial, utilities, and other property types have lower taxes. Then when taxes for these categories are down, residential taxes go up.

Who gets a Homeowner’s Exemption?

As the Homeowner’s Exemption currently works, each owner-occupied primary residence (house or manufactured home) and up to one acre of land is eligible for a Homeowner’s Exemption. To qualify, applicants must own, occupy, and use the dwelling as of January 1 but before April 15. The annual deadline for applying for the Homeowner’s Exemption is 5:00 p.m. on April 15th. The exemption allows a maximum of 50 percent of the value, regardless of price, of the primary residence and up to one acre of land to be exempted from property taxes.

Where do I learn more about the Idaho Homeowner’s Exemption?

The Idaho State Tax Commission is the best resource for homeowner’s interested in learning more about Exemption. On its “Homeowners & Property Tax” page, the Commission explains how the Exemption works now, without the set amount: “Since taxes are based on the budgets of taxing districts, those districts can budget the same amount from property tax from one year to the next, but when property values go down, the levy rate goes up automatically to compensate. If one property’s value increases more than others, its taxes go up faster than others.”

Over the past 10 years, the Idaho Homeowner’s Exemption has been as high as $104,471 and as low as $81,000,due to fluctuations in the Index. The exemption amount for 2016 is $94,745.

Home Value Current Exemption Amount New Exemption Amount
$100,000 $50,000 $50,000
$200,000 $94,745 $100,000
$500,000 $94,745 $100,000
If decreasing 18-month lag in decrease $100,000

 

Going forward, the set exemption amount of $100,000, as outlined in HB431, aims to stabilize the Exemption, create a predictable tax base and provide certainty to homeowners and others who own real property in all categories.

Key points to remember:

  • Idaho is just one of a handful of states that provides a homeowner’s exemption.
  • The $100,000 exemption is actually higher than what we have currently, and higher than what most other states with an exception offer.
  • Both current and future exemptions are capped at 50% of a home’s value, regardless of that price.

Still have questions? Contact Miguel Legarreta, Director of Public Policy at Boise Regional REALTORS®.

Awards Gala Tickets on Sale Now!

BRR Gala Save the Date Image

Register for the REALTOR Awards Gala!

Tickets are $60/person.

Evening Agenda:
6:00pm -7:30pm • Cocktail Hour (and a half!)
7:30pm – 9:00pm(ish) • Dinner & Program
9:00pm(ish) – 11:00pm • Dancing and Celebration!
Tickets to the event are sold individually. A table seats ten attendees.

Bigger and better than ever, the REALTORS® Community Foundation online auction opens February 19th. Watch for announcements and links to the online auction.

Sponsorship Opportunities are still available.

And now through February 15th, we are accepting applications and nominations for the ACAR Honor Society, 2015 Circle of Excellence Production Awards, the Code of Ethics Leadership Award, the Darlene Manning Humanitarian Award, the Rookie REALTOR® Award, and for the Affiliate of the Year, Broker or Manager of the Year, and the REALTOR® of the Year.

Get the application and nomination forms on the main event page and check that page often for the latest event information!

ACAR Installs 2016 President Carey Farmer; Shares Forthcoming Name Change

 

Carey Farmer 2016 President

Carey Farmer
2016 President

The Ada County Association of REALTORS® (ACAR) hosted its 2016 installation ceremony at Boise State University (BSU) on December 18, 2015. The event included a performance by the BSU Main Line Dancers — a tribute to the association’s 2016 President, REALTOR® Carey Farmer, who is a BSU alumna and former Main Line Dancer.

Farmer is an associate broker at Group One Real Estate and has been a REALTOR® for eight years. In addition to her service at ACAR, she is involved with the Junior League of Boise and the Boise Police Auxiliary.

“I couldn’t be more excited about the opportunities we have in 2016,” said Carey Farmer. “As President, I plan to focus on two areas — advocating for the value that REALTORS® bring to consumers, and educating members about the resources available through the association. The increase in data and technology that’s available to consumers, paired with the fast pace of our local market, makes REALTORS® more valuable than ever. They help people navigate the ever-changing process of buying and selling homes, and can personalize transactions to the needs of each buyer and seller. Similarly, the association helps members navigate the changes in the real estate industry, by offering tools, statistics, classes, and more, suited to the individual needs of their businesses.”

During the installation event, ACAR’s Chief Executive Officer, Breanna Vanstrom shared that the association will be changing its name to Boise Regional REALTORS® in 2016. The association was known as the Boise Realty Board from 1920-1964, then as the Boise Board of REALTORS® starting in 1964, and then as the Ada County Association of REALTORS® starting in 1990. Vanstrom had this to say about the new President and forthcoming name change:

“We have a long tradition of outstanding leadership at the association which will certainly continue with Carey. She is a successful REALTOR® who thoroughly understands the issues and opportunities facing our industry, and will use her insights and experiences to strategically guide our organization. This will be especially important as the organization changes its name to Boise Regional REALTORS® in early 2016. By re-introducing Boise into our name, we hope to support the efforts of groups BVEP and the Visitors Bureau, as they work to ‘brand’ our community in the minds of people across the country. But also, our members don’t just do business in Ada County, and we want our name to reflect the expanding area in which our members live and work.”

An official announcement and more details about the name change will be shared soon.

Other leaders who were sworn in to serve on behalf of the association include President-Elect Katrina Wehr of Silvercreek Realty Group, Vice President Gary Salisbury of Red Barn Real Estate, Treasurer Danielle Cullip of Silverhawk Realty, Immediate Past President Brenda Kolsen of Silverhawk Realty, two new Directors Krista Deacon of Silvercreek Realty Group and Jeffrey Wills of Amherst Madison Legacy, and five new State Directors Becky Enrico-Crum of Andy Enrico & Company, Shirley Koch of Coldwell Banker Tomlinson Group, Carolyn Sinnard of Happy Dog Realty, Susan Weaver of Group One Real Estate, and Greg Winther of Silvercreek Realty Group.

They will work alongside the association’s continuing Directors Michelle Bailey of Keller Williams Realty Boise, Jared Cozby of Front Street Brokers, Dianne Hough of Group One, and Bob Van Allen of Coldwell Banker Tomlinson Group, and continuing State Directors Chase Craig of Keller Williams Realty Boise, Phil Mount of Front Street Brokers, Gary Salisbury of Red Barn Real Estate, and Katrina Wehr of Silvercreek Realty Group. The associations is also represented on the National Association of REALTORS® Board of Directors by Kit Fitzgerald of Red Barn Real Estate, whose term goes through 2016.

View Photo Gallery

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The Ada County Association of REALTORS® (ACAR) represents more than 3,600 real estate professionals throughout the Boise region, providing resources to help members conduct their businesses professionally, ethically, and successfully. For more information, visit www.myacar.com.

REALTORS® Community Foundation grants nearly $25,000 in Ada County

The ACAR REALTORS® Community Foundation, the 501(c)(3) charitable arm of the Ada County Association of REALTORS® (ACAR) awarded nine Ada County nonprofit organizations with grants totaling almost $25,000 through its annual competitive grant cycle.

Funds for grants are raised throughout the year by members of ACAR. The two largest fundraisers include the Give-Back Charity Golf Tournament and an online auction at the annual Circle of Excellence Awards Gala.

The objective of the REALTORS® Community Foundation is to support projects and/or programs in Ada County in order to transform the lives of the people in the neighborhoods in which we serve, with special consideration given to projects and/or programs focused on housing needs.

The 2015 grant recipients are:

Boise Firefighters Local 149 Burnout Fund  ̶  $2,500 to provide fire victims with immediate resources for food, shelter and clothing needs.

Boise Firefighters Local 149 - 2015

Boise Rescue Mission/City Light Home for Women & Children  ̶  $3,000 to provide program support for the City Life Home for Women & Children; including the Emergency Services Program, New Life Program, Transitional Housing Program and Children’s Program.

Boise Rescue Mission - 2015

Good Samaritan League   ̶   $2,755 to purchase a new commercial dishwasher as part of the Renovation/Repair/Beautification project.

Good Samaritan League - 2015

Habitat for Humanity   ̶  $2,000 to help with construction costs for homes currently under construction in Frazier Place, a fifteen home subdivision in Boise.

Habitat for Humanity - 2015

Jesse Tree   ̶  $2,500 to provide funding for the Emergency Rent and Mercy Assistance program to keep qualifying individuals in their homes following a one-time financial emergency.

Jesse Tree - 2015

Life’s Kitchen  ̶   $3,000 to help fund the Stone Soup Project providing one hot and healthy meal every weekday at the Interfaith Sanctuary shelter.

Life's Kitchen - 2015

NeighborWorks (formerly Neighborhood Housing Services)   ̶  $2,500 to help fund the Paint the Town program.

The Salvation Army   ̶  $2,000 to help fund the Nearly Home Transition in Place program.

Salvation Army - 2015

Women’s and Children’s Alliance   ̶  $4,000 to maintain the viability of the critical emergency shelter for victims of domestic and/or sexual violence.

WCA - 2015

 

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The Ada County Association of REALTORS® represents more than 3,600 real estate professionals throughout the Boise region, providing resources to help members conduct their businesses professionally, ethically, and successfully. For more information, visit www.myacar.com.