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County counts portion of library expansion as taxable construction-in-progress
Summary
Assessment staff said a special agreement for the library classifies roughly 15% of the building as taxable; with an agreed estimated cost of $187 million and about 80% completion as of Feb. 1, 2026, staff used a $22.4 million figure for the current assessment calculation.
The assessment office described a special agreement governing how much of a library expansion is taxable. "15% of that is considered taxable," the presenter said, explaining that with the parties' agreed estimated cost of $187 million and the project about 80% complete as of 02/01/2026, 15% taxable equals roughly $28,000,000 and 80% of that ($22,400,000) is reflected in the current assessment.
Staff said the library parcel itself had a total assessment just over $2.6 million separate from the special agreement parcel and that other library-related parcels (shade canopies, maintenance shop) are assessed as standard parcels. The board accepted the explanation; staff clarified that the taxable share reflects an agreed estimate between the parties and the percent considered taxable under the special agreement.
