Idaho Code
Idaho Code

Idaho Code § 63-205 (2026)

Assessment — Market value for assessment purposes. 

✓ current as of May 2026
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Assessment — Market value for assessment purposes. 

(1) All real, personal and operating property subject to property taxation must be assessed annually at market value for assessment purposes as of 12:01 a.m. of the first day of January in the year in which such property taxes are levied, except as otherwise provided. Market value for assessment purposes shall be determined according to the requirements of this title or the rules promulgated by the state tax commission.

(2)  Personal property coming into the state after January 1 shall be assessed as of the date of entry into the state in accordance with sections 63-311(3) and 63-602Y, Idaho Code.
Notes of Decisions
Cited in 8 cases (1 in the last 5 years), 2003–2025 · leading case: Senator, Inc. v. Ada Cnty., Bd. of Equalization, 67 P.3d 45 (Idaho 2003).
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Senator, Inc. v. Ada Cnty., Bd. of Equalization, 67 P.3d 45 (Idaho 2003). · cites it 6× “Idaho Code § 63-205 (2002). Market value refers to the amount of money a willing buyer would pay a willing seller for the real property in a voluntary transaction.”
Canyon Cnty. Bd. of Equalization v. AMALGAMATED SUGAR Co., LLC, 137 P.3d 445 (Idaho 2006). · cites it 6× “At that hearing, TAS-CO presented an appraisal employing all three legislatively authorized appraisal approaches to market value (sales comparison, cost and income) set forth in I.C. § 63-205 and IDAPA 35.01.03.217.02 (Rule 217).”
PacificCorp v. Idaho State Tax Comm'n, 291 P.3d 442 (Idaho 2012). · cites it 4× “I.C. § 63-205(1). The tax involved in this appeal is the ad valorem property tax on PacifiCorp’s operating property in Idaho as of the valuation date of January 1, 2008.”
Kimbrough v. Idaho Bd. of Tax Appeals, 247 P.3d 644 (Idaho 2011). · cites it 2× “I.C. § 63-205. Market value is defined as the amount “for which, in all probability, a property would exchange hands between a willing seller, under no compulsion to sell, and an informed, capable buyer, with a reasonable time allowed to consummate the sale, substantiated by a…”
Stender v. SSI Food Servs., Inc. (In Re Bd. of Tax Appeals, APPEAL NO. 16-A-1079), 447 P.3d 881 (Idaho 2019). · cites it 2× “"Market value" means the amount of United States dollars or equivalent for which, in all probability, a property would exchange hands between a willing seller, under no compulsion to sell, and an informed, capable buyer, with a reasonable time allowed to consummate the sale,…”
Wurzburg v. Kootenai Cnty., 308 P.3d 936 (Idaho Ct. App. 2013). · cites it 2× “I.C. § 63-205. Market value for property tax assessment purposes is defined by statute: “Market value” means the amount of United States dollars or equivalent for which, in all probability, a property would exchange hands between a willing seller, under no compulsion to sell,…”
Latah Cnty. v. Idaho State Tax Comm'n (Idaho 2025). · cites it 4× “” I.C. § 63-205(1). The Tax Commission is required “to prepare and distribute to each county assessor and the county commissioners .”
Stender v. SSI Food Servs., Inc. (Idaho 2019). · cites it 2× ““Market value” means the amount of United States dollars or equivalent for which, in all probability, a property would exchange hands between a willing seller, under no compulsion to sell, and an informed, capable buyer, with a reasonable time allowed to consummate the sale,…”
— Idaho Code § 63-205(1) — 6 cases
PacificCorp v. Idaho State Tax Comm'n, 291 P.3d 442 (Idaho 2012). “I.C. § 63-205(1). The tax involved in this appeal is the ad valorem property tax on PacifiCorp’s operating property in Idaho as of the valuation date of January 1, 2008.”
Senator, Inc. v. Ada Cnty., Bd. of Equalization, 67 P.3d 45 (Idaho 2003). “Idaho Code § 63-205 (2002). Market value refers to the amount of money a willing buyer would pay a willing seller for the real property in a voluntary transaction.”
Canyon Cnty. Bd. of Equalization v. AMALGAMATED SUGAR Co., LLC, 137 P.3d 445 (Idaho 2006). “At that hearing, TAS-CO presented an appraisal employing all three legislatively authorized appraisal approaches to market value (sales comparison, cost and income) set forth in I.C. § 63-205 and IDAPA 35.01.03.217.02 (Rule 217).”
Stender v. SSI Food Servs., Inc. (In Re Bd. of Tax Appeals, APPEAL NO. 16-A-1079), 447 P.3d 881 (Idaho 2019). “"Market value" means the amount of United States dollars or equivalent for which, in all probability, a property would exchange hands between a willing seller, under no compulsion to sell, and an informed, capable buyer, with a reasonable time allowed to consummate the sale,…”
Latah Cnty. v. Idaho State Tax Comm'n (Idaho 2025). “” I.C. § 63-205(1). The Tax Commission is required “to prepare and distribute to each county assessor and the county commissioners .”
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