(IDAHO FALLS, ID) – The state Department of Lands is proposing a property exchange involving three buildings in Idaho Falls. The state would trade 58 state endowment-owned lakefront lots at Priest Lake in northern Idaho and Payette Lake in McCall valued at nearly $22,884,815 for more than $1.5 million cash and three privately owned commercial buildings valued at $21,330,000 in Idaho Falls. County officials say swapping the properties will reduce tax revenues, meaning that local residents may be stuck with a higher tab on their property taxes. The Idaho Land Board, which includes Governor C.L. “Butch” Otter and four other constitutional officers, will vote whether to approve the proposed land swap next week in Boise.
More information can be read from the following handout provided by the Idaho Department of Lands:
Click here to view the handout
Seth Fiegerman, CNN