Commissioners consider lowering property assessment cap; staff to confirm fiscal impact before Nov. 15 deadline

Commissioners discussed whether to lower the county—s cap on annual property assessment increases for homestead properties (the assessment cap commonly referenced as the homestead tax assessment cap) and asked staff for firmer cost estimates before the state submission deadline.

Jeanette Kenmore told the board she had received updated state assessment figures showing the county—s total taxable assessment base at about $11.9 billion for the July 1 valuation. Earlier, staff had used an older 2009 report to estimate the fiscal impact. Kenmore said an updated calculation could place the fiscal cost of lowering the cap from 5% to 4% (or to 3%) in the hundreds of thousands rather than the multimillion figures suggested by the older report.

Commissioners debated the prudence of providing tax relief now given relatively flat assessments and the county—s budgeting needs. Several commissioners supported lowering the cap to give homeowners a break while others urged caution and requested time to review updated, state‑run calculations.

Staff agreed to ask the state for an extension or to confirm the exact submission requirements and to return with a corrected fiscal impact estimate. "I need more information on this," Kenmore told the board, noting the statutory Nov. 15 procedural deadline for a county change and the February constant yield calculation used for the county—s budget work.

Ending: Staff will seek clarification from the state on submission options and will return with updated fiscal estimates so commissioners can decide whether to request a cap change for FY17.