The Kootenai County Homeowners Exemption is an exemption provided by state law that saves property owners money on their property taxes. The exemption deducts 1/2 of the assessed value of the building and up to one acre of land as the home site – up to the maximum of $101,153 or 50% whichever is less. After the exemption is deducted from the assessed value of your home, the remaining value is what is taxed. The catch? The property owner must occupy the home as their primary residence.