Unlocking the Tax Benefits for Homeowners in Idaho

Homeownership is an investment that comes with many potential financial benefits. Owning your own home can lead to a variety of tax deductions and credits that can help reduce the amount of money you owe in taxes each year. These tax benefits vary from state to state, but understanding what deductions are available in your state can be the key to unlocking major savings for homeowners. In this blog post, we'll take a look at the tax benefits of homeownership in Idaho and how these perks could potentially help reduce your overall tax burden.

Tax Benefits of Homeownership in Idaho

Tax Advantages of Owning a Home in Idaho

Idaho homeowners enjoy a variety of tax advantages that can help them save money each year. For example, many Idaho property taxes are deductible on your income tax return. This means that homeowners can deduct a portion of the taxes they've paid on their property, reducing their overall annual tax bill. Additionally, mortgage interest is also often deductible for Idaho homeowners which can lead to significant savings when filing taxes.

Home Owner's Exemption on Property Taxes in Idaho

Idaho homeowners who own and occupy their home as their primary residence may be eligible for a homeowner's exemption. This one-time application will exempt 50% of the value of the home plus up to one acre of land up to a maximum value of $125,000 from property tax until any of three conditions are met - the owner moves, no longer owns the home or changes its ownership such as through a trust. This is an important consideration for those who live in areas that have seen higher-than-average increases in home values. Furthermore, this exemption can also provide some relief from rising property taxes in these areas.

Mortgage Interest Deduction for Idaho Homeowners

Idaho homeowners may be eligible to deduct their mortgage interest. Homeowners whose mortgage debt is less than $750,000 may be able to deduct the full amount of interest paid when filing taxes each year. This can be a significant deduction, helping homeowners reduce the amount of taxes owed. Homeowners must meet certain criteria in order to be able to take advantage of this deduction, such as having a loan that meets specific requirements. In addition, they must itemize deductions on their taxes in order to qualify.

Other Potential Tax Benefits in Idaho

Idaho residents may have access to a variety of other tax benefits in addition to the mortgage interest deduction. These can range from incentives for particular occupations, such as educators and active military members, to credits related to energy-efficient home improvements or contributions to qualifying charities. Residents should always consult a tax professional prior to making any changes that could affect their taxes. It is important to understand all available tax advantages prior to filing so that no potential savings opportunities are overlooked. Read our blog about How to Make Your Idaho Home More Energy Efficient.

How Do You Know If Now Is A Good Time to Buy A Home?

We know there are other factors to consider when buying a home beside the tax benefits. Read our blog about: Rising Rents: A Case for Owning a Home in Boise, Idaho in 2023 to determine if homeownership is going to be more cost-effective for you in the long run.


Owning a home in Idaho may provide a variety of tax benefits to homeowners. These include the ability to deduct mortgage interest, as well as credits related to energy-efficient home improvements. Idaho residents should always consult a tax professional prior to filing their taxes in order to make sure that no potential savings opportunities are overlooked. If you're ready to make your dreams of owning a home come true, our real estate agents are here to help! Reach out today and start the process of becoming a proud homeowner.

333 Properties
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$768,800
Neighborhood: Bridgetower
5
Beds
3
Baths
2,906
Sq.Ft.
2008
Year Built
1
Day on Site
98872569
MLS
Welcome to this stunning 5-bedroom 3-full bath home located in the highly sought-after Bridgetower neighborhood. Community offers 2 pools and mature walking paths. The spacious gourmet kitchen...
$519,900
Neighborhood: Caldera Canyon
2
Beds
2
Baths
1,385
Sq.Ft.
2022
Year Built
2
Days on Site
98872501
MLS
Brand New on Corner Lot! Save THOUSANDS on appliances, blinds, water softener, garage hose bib & more in this 2022, meticulously cared for & barely lived in Shadow Mountain built home! Unique floor...
$195,000
Neighborhood: Fairview Terrace Estates
3
Beds
2
Baths
1,980
Sq.Ft.
1977
Year Built
2
Days on Site
98872510
MLS
Don't let interest rates get you down! This fabulous split-bedroom home is available with owner financing at a low rate! This spacious home features many upgrades including newer paint, furnace,...
$329,990
Neighborhood: Tetherow Crossing
2
Beds
2
Baths
1,024
Sq.Ft.
2023
Year Built
4
Days on Site
98872418
MLS
The 1024 square foot Arlington is the perfect choice for those seeking both comfort and function in a single-level home. High vaulted ceilings add volume to the already expansive living room,...
$424,990
Neighborhood: Jocelyn Park
3
Beds
3
Baths
1,743
Sq.Ft.
2023
Year Built
4
Days on Site
98872419
MLS
The 1743 square foot Middleton combines luxury and space in a two-story home plan. The first floor features an expansive living room and adjoining dining room, both overlooked by an open kitchen that...
$899,000
Neighborhood: Bridgetower
4
Beds
3
Baths
3,438
Sq.Ft.
2004
Year Built
6
Days on Site
98871805
MLS
A beautiful custom built home in desirable Bridgetower built by Amyx Signature Homes. Enjoy the secluded backyard and comfortable living in this spacious and unique floor plan. Upgrades include...
$624,900
Neighborhood: Tuscany Messina Hills
4
Beds
3
Baths
2,703
Sq.Ft.
2006
Year Built
6
Days on Site
98872292
MLS
Don't miss out on all this home and community has to offer! Tuscany Subdivision offers 4 swimming pools, a clubhouse, a large city park, many smaller neighborhood parks, miles of walking paths,...
$629,900
Neighborhood: Lavender Heights
4
Beds
3
Baths
2,451
Sq.Ft.
2023
Year Built
6
Days on Site
98872303
MLS
$5,000 Towards Closing Costs offered by Builder. Welcome to the Hudson by Riverwood Homes! Impeccable design, attention to detail and quality craftsmanship throughout. Home boasts 4 bedrooms, 2.5...
$539,000
Neighborhood: Century Farm
4
Beds
3
Baths
2,087
Sq.Ft.
2021
Year Built
6
Days on Site
98872315
MLS
Welcome to this modern farm house in the highly sought-after Century Farms! This home offers a warm and inviting feel from the moment you step inside. Boasting with organic hardwood flooring...
$544,900
Neighborhood: Castlebrook
3
Beds
3
Baths
2,559
Sq.Ft.
2005
Year Built
6
Days on Site
98871019
MLS
Beautiful custom home in an amazing location. As you enter, you will find a striking, open, & vaulted living room. Moving into the kitchen you will see granite countertops, double ovens, a custom...
$679,900
Neighborhood: Lincoln Creek
4
Beds
3
Baths
2,827
Sq.Ft.
2023
Year Built
6
Days on Site
98872328
MLS
Lots available in Lincoln Creek! Pick your floorplan, lot and selections. Spread out and roam in one of Biltmore Company LLC's newest floorplans, "The Charlotte". Features include a main level...
$2,998,470
Neighborhood: Three Corners
6
Beds
5
Baths
5,030
Sq.Ft.
2023
Year Built
6
Days on Site
98872352
MLS
Welcome to this stunning new coastal craftsman home situated on a desirable one-acre lot in a private gated community in North Meridian. As you enter through the arched front door, the elegant foyer...
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IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IMLS does not assume any liability for missing or inaccurate data. Information provided by IMLS is deemed reliable but not guaranteed. All listings provided by IMLS are marked with the official IMLS IDX logo.

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