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Assessor warns of continued assessment increases in 2025; investors, exemptions complicate picture
Summary
The assessor reported continuing upward adjustments to property assessments for 2025 and explained how investor purchases, homestead exemptions and timing affect valuation trends and the public’s visibility into uses such as short‑term rentals.
Bloomington’s assessor told council on Monday that assessment work for 2025 shows continued upward adjustments and that, depending on neighborhood and property type, some areas are seeing increases of about 10 percent.
The assessor said changes reflect sale prices and market activity and that the county sometimes applies a multiplier to the city. "We're seeing strong adjustments again in the on our adjustments on assessments for 2025," the assessor said, adding that some neighborhoods have seen roughly 10 percent increases while others remain flat.
Council members asked whether investor…
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