208-776-5380
PAID BY COMMITTTEE TO
ELECT KEN ANDRUS
Personal Property Tax
This was a major issue in the 2008 Legislative Session. A few years ago personal property tax was repealed for farm machinery. It is only right and proper for the same tax relief to extend to all business owners.
I supported and co-sponsored Legislation to remove all Personal Property Tax on a gradual basis over a five year period. To offset the fiscal impact, economic and state growth would need to expand sufficiently to provide the otherwise lost revenue dollars. If the economy didn't grow by the measured amount there would be no decrease in Personal Property Tax for that year.
This is sound tax policy with safety nets that give needed and deserved tax relief to businesses. If business prospers, the people prosper. If business suffers the people are shorted, as businesses are the job providers and pay much of our overall taxes.
All other legislators from Bannock County favored a Personal Property Tax bill that would have limited the amount of Personal Property Tax Exempted to a $50,000 value, giving relief to small business but not to large businesses - causing a discriminatory, unfair tax policy.