CANYON COUNTY, Idaho — Idaho continues to grow and it is reflected on the latest property tax assessments. With larger assessments expected to be mailed out later this month, it will affect those trying to get into the housing market and those looking to rent.
When the Canyon County Assessor's Office was assessing single-family residential homes last year, the world was just at the beginning of the COVID-19 pandemic. Canyon County Assessor Brian Stender said it made his office more conservative with assessing 2020's home values.
"Later on in the year the market escalated and we saw significant increases in the residential sector of single-family dwellings," Stender said.
Canyon County residents should expect an average of a 30% increase to this year's property tax assessment. Some areas could even see up to a 50% increase, which is one of the largest Stender has seen in Canyon County.
"We've been watching the market," said Stender. "There's short supply and a lot of demand for housing, which when that happens there is a significant increase in the list price."
With limited supply and income levels around the area staying flat, Stender said it will be difficult for those trying to break into the housing market. Jesse Tree of Idaho said higher property tax assessments will also affect renters.
"Landlords have to pay their mortgages and property taxes affect how much rent they charge tenants," said Ali Rabe, the executive director of Jesse Tree of Idaho. "With rising property tax assessments, renters will see an increase in rent as well."
Jesse Tree serves the entire Treasure Valley and works with fixed-income families who are struggling to pay rent. They also assist with finding homes for people in areas that are more affordable.
The organization said when renters have to move out of Ada County because of rent increases, they have been finding more success in rehousing people in Canyon County. However, lately, they're seeing rising prices there.
"As more and more people are forced to move out in Canyon (County) and it sees unprecedented growth, they are also going to continue to see price increases in rent and homes," Rabe said.
Jesse Tree is starting to place people in smaller towns like Melba and Parma. As people are finding more affordable places further away, the problems now become about transportation, schools, child care and more.
"We see transportation as a really large problem for particularly the older folks we see who are on fixed incomes," Rabe said. "Housing as a crisis we're experiencing connects to all sorts of other things."
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