Bannock County Assessor Jason Speth defends property valuation process amid homeowner dispute

Concerns over property valuations took center stage at the Bannock County Board of Equalization meeting on July 1, 2025, as residents questioned significant discrepancies in assessed values compared to recent sales in their neighborhood.

Homeowners expressed frustration over a $120,000 difference in valuation for a comparable property just five houses down. One resident highlighted that while their home was assessed at $6.19 per square foot, a nearby property sold for significantly less, raising doubts about the fairness of the assessment process. "How could it be a $120,000 more?" they asked, emphasizing the need for clarity in the valuation criteria.

Jason Speth from the Bannock County Assessor's Office explained that property assessments are based on data from January 1 of the previous year, meaning recent sales cannot influence current valuations. He noted that the assessment process considers multiple sales to establish a median value, rather than relying on a single transaction. Speth also clarified that discrepancies in square footage measurements could arise from different methods used by builders and assessors, which often leads to confusion among homeowners.

Despite the concerns raised, Speth recommended upholding the current assessments, stating that all comparable properties were measured consistently. The board ultimately agreed, reinforcing the importance of adhering to established valuation practices.

As the meeting concluded, residents were left with lingering questions about the assessment process and its implications for their property values, highlighting the ongoing challenges in ensuring equitable property taxation in Bannock County.