Idaho Tax Board Reduces Taxpayer’s Kootenai County Property Assessment

The Idaho Board of Tax Appeals modified the decision of the Kootenai County Board of Equalization and reduced the total assessed value of taxpayer’s improved commercial property from $14,436,836 to $12,750,000 for the 2025 tax year. The dispute centered on the market value of a 41-unit mid-rise apartment building in downtown Coeur d’Alene, Idaho. Taxpayer argued the property’s $12,500,000 purchase price in May 2025 reflected its market value, while also presenting valuation analyses indicating values between $10,278,201 and $12,860,000. Respondent relied on an income approach model using standard inputs and a $1.90 per square foot rental rate, which yielded a ...