Officials need to address affordable housing
It only makes sense that, as house prices rise, so does the size of the tax break Idaho homeowners get.
While it only addresses a small portion of the affordable housing issue, it may well help keep residents who own homes in them. In keeping with the Legislature's mandate, the Idaho Tax Commission raised the homeowner's exemption to $100,938 for 2008 — up from $75,000. Those numbers were released Wednesday.
The higher amount reflects legislators' demands that future amounts be tied to the Housing Price Index.
Since housing prices are up, so is the homeowner's exemption.
And yet …
As far as steps go, on a state, county and city level, Idaho has a long journey ahead in regards to making housing affordable. Too many people in Bonner County can barely afford to find a place to rent — a home of their own isn't an option.
In the recent Bonner County Housing Needs Assessment Survey, a price analysis of homes available for sale and for rent, showed low- and moderate-income residents have a very difficult time buying in most areas of the county.
The survey found:
? Households looking to buy are limited geographically unless they can pay at least $250,000 for a home.
? Rentors wanting to buy are priced out of the housing market in Sandpoint and Bonner County.
? Almost half of full-time resident households in the county are considered to be low income by industry standards, earning less than $35,000.
? About 47 percent of the county's households met the definition of low income, earning 80 percent or less than the median income of $44,200.
Officials in Bonner County and area cities are working to find solutions — density bonuses, lot size changes, development incentives and more are being eyed to bringing housing prices down.
City elections are on the horizon. When you go to upcoming forums, ask council and mayoral candidates what they will do to make housing more affordable. Then hold them to their promises.
? Caroline Lobsinger is the managing editor of the Daily Bee.