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®.

RPAC Golf Tournament – Registration Open

Registration is now open for the 2nd Annual RPAC Golf Tournament on Wednesday, September 23rd at The Club at SpurWing. This 9-hole tournament is a 4-person scramble with a shotgun start at 9am followed by lunch at approximately 11:30am (the event should be done by 1pm).  If you are a current investor in RPAC or are interested in learning more about or becoming an investor in RPAC, this tournament is for you!

The tournament is open to all ACAR members.  Major Investors at the Sterling R ($1,000) level and above are invited to play for FREE! All other ACAR members are invited to play for $75. Or join us just for lunch for only $20. REGISTER NOW.

Registration includes:

  • 9 holes of golf on Spurwing’s new Challenge Course
  • golf cart
  • drink ticket
  • raffle ticket
  • awards lunch

All tournament proceeds benefit RPAC which works to protect homeownership and the real estate industry by fighting issues and electing pro-REALTOR® and pro-real estate candidates. RPAC dollars are used on the federal, state and local levels to support issues critical to the future of real estate and REALTORS®.

New House Leadership in Washington DC

There has been some major shifts in DC  following the loss by Majority Leader Cantor; a new Majority Leader and Majority Whip were elected by secret ballot yesterday.   Please find below a few articles which lay out the tenor of the leadership race, and who the new team is.   NAR has solid relationships with both Congressman McCarthy and Congressman Scalise, so our issues remain at the forefront within the leadership team.

photo by: Phil Roeder

RPAC Speakeasy at Circle of Excellence

Join other RPAC Major Investors at the RPAC Speakeasy for complimentary cocktails!

The REALTORS® Political Affairs Committee is keeping the dream of homeownership alive.  RPAC is like insurance for your business; it protects you more than you know.   So join other VIPs at the RPAC Speakeasy by investing $250 or more and become part of the team defending homeownership!

Complete the pledge form to get access to the speakeasy. 

RPAC 2014 Pledge Form

Thank you for your investment in homeownership.
  • Please enter a value greater than or equal to 250.