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Assessor urges caution on revaluation: single-family homes could shoulder larger share of tax burden
Summary
City assessor staff outlined a possible revaluation (reval) and said current equalization rates suggest residential properties (about 30%) trail businesses (about 50%), which could shift tax burden toward single-family homeowners if a citywide reval occurs.
The city assessor described plans to update property records and the possible consequences of a full revaluation.
Assessor staff said the city is planning to update parcel photos and property characteristics using a new tablet-based workflow and that a revaluation would examine market values across roughly 22,000 parcels. Staff reported the citywide equalization rate was about 41% last year, and their analysis suggested…
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