(Boise, ID) – Governor Brad Little commented today on the news that Idaho closed the books on Fiscal Year 2024 with another strong performance, further reinforcing Idaho’s economic strength, prudent budgeting, and focus on the taxpayer.
Idahoans will receive an additional estimated $76.5 million in property tax relief moving forward on top of the hundreds of millions in property tax relief they have received over the past year after the passage of a 2023 property tax cut measure as part of Governor Little’s “Idaho First” plan. Based on strong revenues, particularly in steady sales tax performance, Idaho closed out Fiscal Year 2024 with a $52.5 million surplus that will go directly to property tax relief, and the state will put another $24 million in unspent agency funds toward property tax relief as well.
“The Legislature and I are proud to deliver even more tax relief to help Idahoans combat the horrible impacts and soaring costs of inflation caused by the Biden-Harris administration. What Idaho is doing is working. Our conservative approach to governing means we encourage economic prosperity, we rein in government spending, and we manage our budget with money to spare, unlike Washington, D.C. We also have the largest ever balance in rainy day funds to help us weather any economic storm,” Governor Little said. “Idaho embraces ‘kitchen table economics,’ just like everyday Idahoans. Washington, D.C. could slash the federal debt by following Idaho’s example!”