Section 63-716 - DEFERRAL - INTEREST - LIEN - PRIORITY(1) Upon approval by the state tax commission, payment of any amount of property tax due for the year to which the election relates, after application of the property tax relief available under sections 63-701 through 63-710, Idaho Code, and subject to the limitation in section 63-717(2), Idaho Code, in regard to the qualified property subject to the election, shall be deferred until the deferral is terminated under section 63-718, Idaho Code.(2) During the period of deferral, interest shall accrue on the amount deferred at the annual rate of interest provided in section 63-3045, Idaho Code.(3) The lien imposed by section 63-206, Idaho Code, shall continue to be a lien on the property in the amount of deferred taxes and interest thereon. The state tax commission shall file with the county recorder of the county in which the property is located a notice of lien for deferred property taxes. Notwithstanding the provisions of section 63-206, Idaho Code, the lien for deferred taxes and interest shall not be a first and prior lien but shall take its priority from the date and time of filing of the notice of lien.[63-716, added 2006, ch. 234, sec. 1, p. 695; am. 2011, ch. 85, sec. 5, p. 181; am. 2021, ch. 238, sec. 2, p. 729.]Amended by 2021 Session Laws, ch. 238,sec. 2, eff. 4/15/2021.Amended by 2011 Session Laws, ch. 85,sec. 5, eff. 7/1/2011.