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Board adopts L-4024 equalization form after staff report showing residential ratio at 44.27%
Summary
County equalization staff reported residential parcels’ ratio at 44.27%, and after discussion the Board adopted the L-4024 equalization form; staff said assessed value for the county rose about 8.69% after equalization.
Nicole Merlo, county equalization staff, presented the county’s ratio-and-factor report and recommended adoption of the L-4024 equalization form.
Merlo told the board the office studied 1,905 residential parcels and found a residential ratio of 44.27 percent and noted commercial and agricultural classes were similarly below the 50 percent assessment target. "We studied 1,905 parcels in the residential class, and that had a ratio of 44.27," Merlo said. She said the county’s overall assessed value increased 8.69 percent after assessors adjusted classifications.
Commissioners asked clarifying questions about parcel counts, vacation rentals and local sales volume. Staff noted a lack of industrial-sales data made the industrial class ratio less certain. After the presentation the board moved to adopt the equalization forms and completed a roll-call vote in support of the staff recommendation; staff recorded no corrective factors were required.
