Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Property Tax topic
No spam. Unsubscribe anytime.
County projects conservative property-tax gains; assessor shows $36M permits, staff using $18M for now
Summary
Officials said the state-set CPI for PTEL is 2.7% and the assessor shows about $36 million in open permits; finance used a conservative $18 million new‑construction assumption for early levy estimates.
Finance staff told the committee that the state has issued a PTEL CPI of 2.7% used in levy calculations. “Right now the state has already issued what the CPI that will be used in our PTEL tax calculation will be and it's 2.7%,” Reed said.
Reed said the assessor reported roughly $36 million in open permits by assessed value (EAV) but that staff used a conservative $18 million number in the preliminary calculation. Committee members questioned whether enterprise‑zone abatements had been accounted for; staff said abatements can phase in or delay revenue and requested a roll‑off schedule from assessor records to clarify year‑by‑year impacts.
The discussion emphasized timing: assessor completion dates and the clerk’s tax-extension reports (typically in April) determine how much new value is captured for levy years. Members asked for more granular abatement schedules and final new‑construction numbers closer to year end.
