County trims assessment on newly built home after debate over percent-complete for November 1 valuation

The Pennington County Board of Equalization reduced the structure assessment on a newly built home after commissioners questioned whether assessment staff had applied the correct percent-complete for the property—s November 1 valuation date.

The homeowner, who testified he moved into the house only recently, said the property was not complete on the statutory assessment date and that he was not contacted before assessors inspected the site. He argued that unfinished interior and exterior items made the assessor—s higher valuation unreasonable.

County appraisers said they use a cost approach on houses under construction and estimate the percent complete when work remains; they also said inspectors introduce themselves at properties and obtain permission to view interiors when contractors or owners are present. In this case the appraiser recorded the building as roughly 70% complete for valuation purposes and produced a cost-based assessment that included both the house and attached features.

After discussion, commissioners substituted a lower structure assessment and a land assessment that reflected the county—s land value; the board adopted a total assessment lower than the assessor—s recommended notice. The board recorded the new 2025 assessment and directed staff to update the parcel record.

The board noted that owners who move in after November 1 do not automatically obtain owner-occupied status for the assessment year; occupancy rules and the treasurer—s records determine owner-occupancy and any related exemptions.