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Assessor reports residential assessment ratios slipped to the mid‑80s; adjustments planned
Summary
City Assessor Louis Cousins told council residential assessment ratios have fallen (overall ~86%), with grade-by-grade variance (some grade‑D sales at 108%, B grades at 77%), and said he will make adjustments to protect reimbursement levels.
City Assessor Louis Cousins told the council the city's certified ratio work shows residential assessments slipped this year to roughly 86% overall, with significant variation by property grade.
Cousins explained the breakdown by grade and sales counts, saying, "There were 31 sales of grade d properties. And the average selling price of those was $102,009.69." He described C, B and A grade sales and noted that the city previously sought to keep the ratio above roughly 91% to secure full reimbursements. Cousins said adjustments to the assessment rolls will be necessary to address the shifts recorded in recent sales data.
Council discussed how the adjustments should proceed; the assessor indicated commercial properties require different methodologies and continue to show a separate ratio around 91%.
