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Real Property Assessment Division certifies 2025 net taxable values; shows 4,200 tax‑credit applicants
Summary
Real Property Assessment Administrator Steven Takara certified the city’s net taxable valuations and delivered statutory reports to the committee, including a table of net taxable property and a separate report for leased government lands; staff also reported 4,200 applications for the city’s tax‑credit program totaling about $8.4 million.
Steven Takara, Real Property Assessment Administrator, briefed the Budget Committee on the 2025 certification of real‑property assessments and delivered the assessment list and statutory certification documents required by ordinance.
Takara noted the assessment list — a multi‑thousand page record identifying parcels, tax map keys and classification codes — was delivered to the city clerk as required, and the division provided two statutory tables to council: net taxable real property used to compute tax rates, and a separate table for leased government lands that are not used in rate setting. He said the assessment roll and certification timelines are set by ordinance, with the assessment list due Jan. 31 and the certification materials submitted Feb. 1.
Takara told the committee the tax‑credit program administered by the Treasury will include about 4,200 applicants for the coming year, and the division’s paperwork lists roughly $8.4 million in credits for qualifying taxpayers. He reviewed the appeal deadlines, exemption and dedication deadlines and explained that the numbers the division provided feed into the budget process between February and June, when council sets the tax rates for the coming fiscal year.
Committee members thanked the assessment staff and acknowledged the role of the documentation in preparing the city budget. The chair noted the data will be used by the Department of Budget and Fiscal Services as it prepares the FY26 budget and tax‑rate proposals.
