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Tax commission adopts submission to update 2025 personal-property valuation tables
Summary
The commission unanimously approved submitting amendments to the personal-property 'percent good' valuation guides for the 2025 calendar year, including repeal of a class treating certain leasehold improvements as personal property; Commissioner Jennifer Fresquez, a certified general appraiser, supported the change.
Commissioner Rebecca Rockwell explained that proposed amendments to R 8 84 24 p 33 would update the 'percent good' valuation tables that county assessors use to value personal property for the 2025 calendar year. Rockwell said the revisions include repeal of percent-good class 24 (leasehold improvements on exempt rail property) so such improvements will generally be treated as real property unless another class applies.
Commissioner Jennifer Fresquez, speaking as a certified general appraiser, said the change made her "much more comfortable," and thanked Josh Nielsen for coordinating with counties. Rockwell moved to submit the proposed amendments to the Office of Administrative Rules; the commission voted unanimously to publish the changes.
