Form 49er - Recapture Of Qualified Investment Exemption From Property Tax
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349ER
RECAPTURE OF QUALIFIED INVESTMENT
F
O
R
EFO00032
EXEMPTION FROM PROPERTY TAX
M
01-08-15
Use this form to report recapture on assets on which you claimed a property tax exemption.
Name(s)
Social Security Number or EIN
PART I -- IDENTIFY PROPERTY THAT CEASED TO QUALIFY AS IDAHO INVESTMENT TAX CREDIT PROPERTY
Asset Number
Asset Description
A
B
C
D
E
PART II -- PROPERTY TAX BENEFIT TO BE RECAPTURED
Assets
A
B
C
D
E
1. Date asset placed in service .......
2. First year exemption claimed ......
YEAR 1
3. County where placed in service ..
4. Exempted value in year 1 ...........
5. If locally assessed property,
enter the average property tax
levy for the county in year 1 ........
6. If centrally assessed property, or
property in more than one county,
enter the average urban property
tax levy of the state in year 1 ......
7. Multiply line 4 by line 5 or 6 .........
YEAR 2
8. County where placed in service ..
9. Exempted value in year 2 ...........
10. If locally assessed property,
enter the average property tax
levy for the county in year 2 ........
11. If centrally assessed property, or
property in more than one county,
enter the average urban property
tax levy of the state in year 2 ......
12. Multiply line 9 by line 10 or 11 .....
13. Property tax benefit:
Add lines 7 and 12 ....................
PART III -- COMPUTATION OF PROPERTY TAX RECAPTURE
14. Date asset ceased to qualify .......
15. Number of full years between
dates on line 1 and line 14 ..........
16. Recapture percentage from table
on page 1 of instructions .............
17. Property Tax Recapture:
Multiply line 13 by line 16 ............
18. Add line 17, columns A through E. This is the total amount due .........................................................................
Include this form with your Idaho income tax return.
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