Ordinance NO. ORD-42-25 BY THE COUNCIL CORLESS, HALLYBURTON, MORALES, NASH, STEAD AND WILLITS. AN ORDINANCE ENACTING A PROPERTY TAX REBATE PROGRAM AS AUTHORIZED BY IDAHO CODE SECTION 50-235; REAFFIRMING THAT 900 THOUSAND DOLLARS HAS BEEN APPROPRIATED TO FUND THE CITY OF BOISE TAX REBATE PROGRAM; PROVIDING INSTRUCTIONS AND DEADLINES FOR PROPERTY TAXPAYERS TO APPLY FOR A PROPERTY TAX REBATE; SETTING FORTH THE FORMULA TO BE USED TO CALCULATE PROPERTY TAX REBATES; PROVIDING A METHOD FOR DISTRIBUTION OF PROPERTY TAX REBATES; PROVIDING FOR A WAIVER OF THE READING RULES; AND PROVIDING AN EFFECTIVE DATE. NOW THEREFORE, BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF BOISE CITY, IDAHO: Section 1. Pursuant to Idaho Code Section 50-235, there is hereby established a property tax rebate program for eligible Boise City residents and to be administered by the Boise City Department of Finance. Section 2. As part of the FY 2026 Adopted Budget, Boise City appropriated nine hundred thousand dollars ($900,000) to fund the property tax rebate program. Section 3. Boise City will send out notices to all city taxpayers who applied and were approved (evidenced by the reduction on the property tax bill to be mailed by Ada County in November 2025) for the tax year 2025 property tax reduction program. These notices from Boise City will be sent in December 2025. The deadline to apply for the city rebate program shall be March 31, 2026. The applicant shall complete an application on a form and in a manner provided by Boise City. In addition, the instructions and application deadlines will be posted on the City of Boise website and social media platforms. Section 4. The property tax rebate program eligibility shall be based on the applicant's participation in the current tax year property tax reduction program, as contained in Idaho Code Title 63, Chapter 7. Additionally, to qualify for the rebate, the applicant's property taxes must be paid in full by June 30, 2026. Section 5. The formula for calculating the rebate amount will be equal to the total Boise City property taxes (excluding amounts due to other taxing districts and/or the valuation limitation set forth herein) less the pro rata amount allocated to Boise City property taxes from any applicable credits authorized by state code (e.g., the state property tax reduction program). In the event that the nine hundred thousand dollars ($900,000) is not sufficient to provide a full rebate (as calculated herein) to each eligible applicant, then the nine hundred thousand dollars ($900,000) will be divided by the total property tax rebate calculated herein and distributed on a pro rata basis to each eligible applicant. If an applicant's 2025 property value exceeds 200% (per Idaho Code Section 63-705) of the tax year 2025 median home value for properties receiving the homestead exemption in Ada County, the refund will be calculated based on taxes due on the reduced home value of 200% of the median. In tax year 2025, the median home value in Ada County was $479,600, resulting in the maximum property value eligible for rebate of Boise City property taxes being $959,200. Section 6. The property tax rebate shall be distributed to eligible applicants by check to the primary property owner as listed by the Ada County Assessor's Office. Checks will only be sent to the property address on record. Section 7. The primary property owner must sign the application to be eligible for the rebate. Rebates may not be available to estates or trusts after the passing of the property owners. If the primary property owner has passed away, the secondary property owner (as listed by the Ada County Assessor's Office) may apply and note the death of the primary owner on the application. Section 8. In no event will the amount of property taxes rebated exceed the amount of property taxes payable by the property owner on the applicable property and rebates are limited to eligible property taxpayers residing within Boise City. Section 9. That pursuant to the affirmative vote of one-half (1/2) plus one (1) of the members of the full Council, the rule requiring two (2) separate readings by title and one (1) reading in full be, and the same is hereby, dispensed with, and accordingly, this Ordinance shall be in full force and effect immediately upon its passage, approval and publication. ADOPTED by the Council of Boise City, Idaho, on December 9, 2025. APPROVED by the Mayor of the Boise City, Idaho, on December 9, 2025. APPROVED: ATTEST: Lauren McLean, Mayor Jamie Heinzerling, City Clerk IPL0297799 Dec 14 2025