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Board signs on to ISBA resolution to change Idaho capital-gains deduction for nonresidents
Summary
The board agreed to sponsor a resolution, drafted by West Bonner School District, seeking to remove a 60% state deduction on capital gains for nonresident property sellers so more state tax revenue would remain available for schools.
The board voted to endorse and sponsor an Idaho School Boards Association (ISBA) resolution drafted by West Bonner School District asking the state to eliminate a 60% capital-gains deduction for nonresident sellers of Idaho property.
The resolution, as described by a sponsoring trustee at the meeting, would retain the deduction for Idaho residents but remove it for nonresident and out-of-country property owners. The trustee presented county assessor data indicating roughly 43% of assessed property value in the county is owned by out-of-state or foreign owners; for 2023 state tax rates, the sponsoring trustee estimated that eliminating the nonresident deduction could have returned roughly $7.3 million in revenue to Idaho schools in that year.
Board members supported the concept and agreed to be a sponsoring board; members noted that the change would require state legislation and thanked the West Bonner trustee for drafting the resolution. The board did not adopt model legislation but agreed to sign the resolution and support the sponsor’s efforts at the state level.
The board asked the sponsoring trustee to continue working with ISBA and to provide the district with any follow-up materials that the board can sign or endorse in support of the effort.
