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Fargo assessor says market broadly stable but cuts large-office values after reappraisal
Summary
City assessor told the Board of Equalization the 2026 reappraisal kept Fargo within state sales-ratio targets, reported a $24 billion total appraised value and applied an ~8% downward adjustment to large office properties after evidence of softening.
At a morning session of the City of Fargo Board of Equalization, the assessor’s office delivered a detailed review of the 2026 reappraisal process and the local real estate market, saying the city’s sales ratios remain within the State Board of Equalization’s 90–100% target.
The assessor told commissioners the commercial sales ratio improved from about 94% to 95.1% after the local reappraisal and residential ratios moved from roughly 92% to 95%. "Right now, the real estate market is pretty stable," the assessor said, noting the office made targeted,…
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