Local Economy

Find Out More About the Coeur d'Alene, Post Falls and Hayden Area Economy & Job Market 

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.  

INCOME-TAX RANGE
1.6% – 7.8% 

The Gem State taxes all income received by an Idaho resident, except Social Security and Railroad Retirement benefits. Its top tax rate of 7.8% applies to taxable income of $26,418 and above. However, if you are 65 or older, Idaho offers a retirement-benefits deduction of up to $41,814 for married couples or $27,876 for individuals. The state imposes a 6% sales tax on everything except prescription drugs, and some resort cities and counties can add their own taxes for a combined sales-tax rate of up to 9%. Property is taxed at full market value, but your primary residence is eligible for an exemption of up to 50% of assessed value, up to a maximum $92,000 in 2010. Idaho does not have an inheritance tax, estate tax or gift tax. 

EXEMPTIONS FOR RETIREMENT INCOME
Idaho does not tax Social Security benefits or Railroad Retirement benefits. Idaho offers a retirement-benefits deduction if you are age 65 or older, or if you are disabled and age 62 or older, and receive qualifying retirement benefits, such as a civil-service pension or military pension. The amount deducted must be reduced by retirement benefits paid under the Federal Social Security Act and the Federal Railroad Retirement Act. The maximum amount that could be deducted for 2009 was: married filing jointly (age 65 or older), $41,814; married filing jointly (age 62 or older and disabled), $41,814; single (age 65 or older), $27,876; and single (age 62 or older and disabled), $27,876. 

Circuit Breaker Exemption on PROPERTY TAXES
If you are a qualified Idaho homeowner, you may be eligible for the circuit breaker program. To qualify you must own and occupy the home as your primary residence, you must meet income requirements and must be either age 65 or older, a widow(er), blind, former POW, fatherless or motherless minor, or a qualifying disabled person. This program may reduce property taxes on your home and up to one acre of land by as much as $1,320. Idaho also has a property-tax deferral program.

State tax data courtesy Retirement Living Information Center. Visit RetirementLiving.com for a complete rundown of taxes in Idaho. 

TAXES IN KOOTENAI COUNTY 

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 $92,000 or 50%, whichever is less. This rate may be adjusted anually. 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)
* 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 the majority of the year.  

* WHEN TO FILE
* On new homes, owner must apply within 30 days of purchase

* 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.

* WHERE DO I FILE?
* The applications are available and must be filed in the Assessors Office, located at 451 Government Way, Coeur d Alene on the main floor of the Administration Building, next to the information desk.

* FOR FURTHER ASSISTANCE-
* Call the assessors office 208 446-1513
E-mail bwilliams@kcgov.us 

Sales Tax: 

Sales tax in Kootenai County is 6.0% on retail sales, and on the use, consumption or storage of tangible personal property.  

Moter Vehicle Taxes 

Motor vehicle taxes are levied on cars and trucks depending on vehicle year. (Our yearly tax is approx $40/yr.) Commercial vehicles are charged by gross weight up to 16,000 pounds. 

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