IDAPA 35.01.03.961 — HOMESITE ASSESSMENT AND FORESTLANDS OF LESS THAN FIVE ACRES AND

CONTIGUOUS PARCELS.
Sections 63-1702, 63-1703, Idaho Code
01.
Definitions. The following definitions apply to the valuation of residential parcels that are
contiguous to lands classified as forestlands.
(7-1-24)
a.
Homesite. The "homesite" is that portion of land, contiguous with but not qualifying as forestlands,
and the associated site improvements used for residential purposes.
(7-1-24)
b.
Associated Site Improvements. The "associated site improvements" include developed access,
grading, sanitary facilities, water systems, and utilities.
(7-1-24)
02.
Homesite Assessment. Each homesite and residential and other improvements, located on the
homesite, will be assessed at market value each year.
(7-1-24)
IDAHO ADMINISTRATIVE CODE
IDAPA 35.01.03
State Tax Commission
Property Tax Administrative Rules
Section 962
Page 79
a.
Accepted Assessment Procedures. Market value will be determined through procedures, methods,
and techniques recommended by nationally recognized appraisal and valuation associations, institutes, and societies
and according to guidelines and publications approved by the Tax Commission. Acceptable techniques include those
that are either time tested in Idaho, mathematically correlated to market sales, endorsed by assessment organizations,
or widely accepted by assessors in Idaho and other states.
(7-1-24)
b.
Appropriate Market and Comparable Selection. The appropriate market is the market most similar
to the homesite and improvements located on the homesite. In applying the sales comparison approach, the appraiser
should select comparables having actual or potential residential use.
(7-1-24)
c.
The value and classification of the homesite will be independent of the classification and valuation
of the remaining land.
(7-1-24)
03.
Forestlands of Less Than Five Acres and Contiguous Parcels. A parcel of forestland that is less
than five (5) acres is not eligible for valuation and taxation as forestland unless that parcel is currently granted
forestland status, or unless a parcel is created solely by a tax code area boundary or governmental Public Land Survey
System boundary of an original parcel with a single property description comprising at least five (5) acres of
forestland. The five (5) acre minimum requirement must exclude any homesite. If a landowner owns a fifteen (15)
acre parcel which contains four (4) acres of forestland, nine (9) acres of irrigated row crop, and two (2) acres of
homesite. The four (4) acres of forestland is not eligible for valuation and taxation as forestland.
(7-1-24)