Bannock County property appraisal dispute reveals massive 270% value increase in five years

The Bannock County Board of Equalization convened on July 3, 2025, to address property valuation appeals, focusing on residential properties and their assessed values. The meeting featured discussions from property owners and the county assessor regarding discrepancies in property appraisals.

The first speaker presented a case concerning a 9.3-acre lot purchased in 1996 for $40,000, which had seen a significant increase in value over the years. The property, valued at $85,000 in 2020, surged to over $229,000 by 2025, marking a 270% increase in just five years. The owner highlighted that the land's steep terrain, which backs onto Bureau of Land Management (BLM) land, limits its usability, as restrictive covenants prevent any construction or fencing. The owner argued that the county's appraisal of the remaining 8.3 acres at over $17,000 per acre was inconsistent with similar properties in the area, which varied widely in value.

Following the property owner's presentation, the county assessor responded, noting that the subject property is a 4,116 square foot home with 3,500 square feet of finished space. The assessor emphasized that comparable properties were of similar quality and that the land's value was reflective of market trends. The assessor also mentioned the protective easements in place that restrict development on the property.

A key point of contention arose regarding the actual size of the home, with the property owner asserting that the correct square footage was just over 2,900 square feet, contradicting the assessor's claim. This discrepancy prompted further questions from the board regarding how land value is allocated between the house and the additional acreage.

The meeting concluded without immediate resolutions, as board members continued to deliberate on the presented information. The discussions highlighted the complexities of property valuation in Bannock County, particularly in areas with unique geographical and regulatory challenges. Further follow-up actions were anticipated as the board reviewed the appeals and assessed the validity of the claims made by both the property owners and the county assessor.