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Assessor: Bloomington's 2026 valuations show modest residential growth and lower new construction
Summary
City Assessor Tim Bulger told the council that 2026 assessments show residential values up modestly (median single-family ~$376,000, +2.9%) while condos fell and new construction value declined to $93M; combined commercial/industrial/apartment values were roughly flat, shifting a small portion of tax burden to residents.
City Assessor Tim Bulger presented the 2026 assessment report at the April 27 meeting, summarizing methodology, timeline and market trends used to set values.
Bulger explained that assessors used a sales study period of Oct. 1, 2024 through Sept. 30, 2025, with the valuation date of Jan. 2, 2026. The assessor noted single-family residential values are up about 3.2% year over year (median home value ~$376,000), townhomes up…
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