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Interim county appraiser: 2025 revaluation shows 6–7% countywide growth, strong industrial new construction
Summary
Interim County Appraiser Cara Indicott reported a 7.14% total growth and 6.26% revaluation growth for 2025; commercial new‑construction values rose by 5.52% with more than $1 billion in new construction, while residential growth was concentrated in southeast and northeast market areas.
Cara Indicott, interim county appraiser, presented the 2025 revaluation and economic indicators to the Board of County Commissioners on Feb. 27, reporting overall county valuation growth of about 7.14% and a revaluation (existing building) growth of 6.26%.
Indicott said new residential construction accounted for 0.88% growth; she noted single‑family transactions and average sale prices remained resilient despite higher interest rates. Indicators by market area showed gains in the southeast corner of the county and in lake communities. Residential values increased countywide (about 91% of residential parcels rose in value), but increases were generally in the single digits across most of the county.
On commercial property, Indicott reported a 1.93% increase in existing commercial values and a 5.52% increase tied to new construction — driven in part by large industrial projects including Panasonic. Industrial development remained a bright spot, with roughly 3 million square feet of new industrial space added and an estimated 19 million square feet in the development pipeline. Indicott said total new construction dollars exceeded $1 billion for the assessment year.
The appraiser discussed IRBs/EDX (tax incentive) properties: total value on such properties was presented as approximately $3.8 billion with $988 million on the tax roll; Indicott said properties with abatements represented about 2% of the county’s total valuation. She cautioned that single‑tenant office properties and some retail segments showed modest declines and that apartment pipeline counts may fall as development plans are refined.
Commissioners asked clarifying questions about the methodology for market models, apartment distribution across communities, the origin of pipeline unit counts and changes to personal property reporting. Indicott said pipeline unit estimates come from public development plans and city postings, and she noted state law changes reducing the availability of certain personal property reporting information.
The county manager and commissioners thanked the appraiser for the presentation and scheduled the annual economic review with CERI and the Mid‑America Regional Council for March 13.
