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County assessor notes 15-year review found market shifts tied to local conditions
Summary
Bernalillo County staff described a 15-year historical review of property values and said assessors must track market fluctuations and neighborhood conditions — including loitering, crime and unhoused populations — when setting valuations.
Unidentified Speaker 1 (Unidentified speaker) said the Office of the County Assessor completed a 15-year historical data review ‘‘to make sure that every property in Bernalillo County, no matter the neighborhood, gets fair and equitable treatment,’’ noting the study examined property values across the county.
The review’s purpose, the presenter said, was to document how market conditions change over time and to guide assessment practices. ‘‘We found that market does fluctuate,’’ Unidentified Speaker 2 (Unidentified speaker) said, adding that a market set at one point ‘‘Give it 10 years, it may be something totally different.’’ The speaker said assessors try ‘‘to keep up with the market that has been set for us by the public.’’
Speakers described several local conditions the study identified as influencing property values. ‘‘A lot of that market does take into account things that have come up through this study, which was loitering, crime, unhoused individuals,’’ Unidentified Speaker 2 said, and added that broader supply-and-demand dynamics also affect valuations.
The presentation did not include a formal recommendation, motion or vote. Speakers framed the review as informational: a data-driven effort to support equitable assessments across neighborhoods. Unidentified Speaker 2 closed by saying they ‘‘enjoyed being a part of it,’’ and no next procedural steps or formal actions were announced during the recorded remarks.
The discussion focused on findings from the internal review; funding, implementation details and any planned changes to assessment schedules or procedures were not specified in the remarks.
