The taxes imposed by this chapter do not apply to charges for personal property tax added to the rent paid for leases of tangible personal property. This exemption applies if:
(1)  The lessor separately states the charge for property tax to the lessee; and
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Terms Used In Idaho Code 63-3622UU

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Personal property: All property that is not real property.
  • Personal property: includes money, goods, chattels, things in action, evidences of debt and general intangibles as defined in the uniform commercial code — secured transactions. See Idaho Code 73-114
  • Property: includes both real and personal property. See Idaho Code 73-114
(2)  The amount charged to the lessee is not more than the property tax actually paid by the lessor; and
(3)  The lease agreement is for an initial period of one (1) year or longer.