Coeur d'Alene IS NATIONS HOTTEST JOB MARKET
In a study of the hottest small cities(50,000-100,000 jobs) by BizJournal.com, CDA was given high praise in the online publication with a job growth of 5.9%. Check out the entire article.
Economic strength of Idaho can be determined from the relationship of employment, labor force, and population. Both population and employment have increased at a substantial rate during the past 10 years. Idaho's population doubled in the 90's.
TAXES IN KOOTENAI COUNTY
Idaho funds its communities through state income taxes, local property taxes and sales/use taxes. Property taxes provide a majority of tax revenues to fund local services.
Property Tax:
Although property tax rates vary from city to city and the county in the Coeur d'Alene, Post Falls and Hayden area, the average tax rate is 1.4 % of the taxable value of property.
HOMEOWNERS EXEMPTION The homeowners exemption is an exemption provided by Idaho 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 & up to a one-acre homesite up to a maximum of $89,325 for taxation purposes. See Idaho code 63-602G and 63-701.
WHO QUALIFIES? A PROPERTY OWNER WHO OCCUPIES THE HOME AS THEIR PRIMARY RESIDENCE AND IS AN IDAHO RESIDENT QUALIFIES FOR THIS EXEMPTION.
HOW DO YOU QUALIFY?
* A valid Idaho drivers license (if you drive)
* Vehicle is licensed in Idaho (if you own a vehicle)
* 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 the majority of the year.
* WHEN TO FILE
* On new homes, owner must apply within 30 days of occupying the home
* On existing homes the deadline for applying is April 15th of the year that you occupied the home. We suggest that the property owner file as soon as home is owned and occupied.
Sales Tax:
Sales tax in Kootenai County is 6.0% on retail sales, and on the use, consumption or storage of tangible personal property.
State Income Tax
Individual state income tax is graduated and varies from 0 to 8.2 % based on ones taxable net income. Also Idaho residents are taxed on their total income, even if it is earned in another state or country. Corporate state tax is 8% of net taxable income.
Moter Vehicle Taxes
Motor vehicle taxes are levied on cars and trucks depending on vehicle year. (My yearly tax is approx $40/yr.) Commercial vehicles are charged by gross weight up to 16,000 pounds.
Taxes For Retirees
Retirees Social Security income and Tier 1 Railroad Retirement benefits are not taxed. Taxpayers may receive a partial tax exemption for civil service and military retirement income received after age 65 (62 if disabled) and a deduction of Tier 2 Railroad Retirement.
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