During a recent government meeting, officials discussed significant changes to the assessment of manufactured homes, highlighting a manual increase in property values that reflects rising construction costs. The assessment program, which had not been updated since 2008, now incorporates a revised cost manual that accounts for the substantial increase in building expenses over the past 15 years.

Jennifer, a key participant in the discussion, noted that the previous undervaluation of manufactured homes has been addressed, resulting in a notable increase in their assessed values. Mark, another official, elaborated on the manual increase, explaining that the assessment program is based on both cost and sales data. He emphasized the necessity of updating the program to align with current market conditions, as the costs to build have significantly escalated since the last update.

The meeting also touched on the adjustments made to depreciation tables, which are crucial for accurately assessing property values. The officials acknowledged the complexity of these changes but affirmed their importance in ensuring fair and accurate property assessments moving forward.

As part of the discussion, the square footage of a specific home was confirmed to be 1,450 square feet, with no basement, indicating that detailed property information is being considered in the assessment process. The officials expressed confidence that these updates will lead to a more equitable evaluation of manufactured homes in the community.