Assessor reports $567.7M rise in net assessed value; downtown TIF nearing sunset

The assessor's office presented the September supplement showing a net assessed valuation change of $567,739,875 (about 5.23%) from last year's tax roll. The presentation included line items for real estate, personal property and public service values, a list of TIFs and increments, and notation that downtown TIF 2 is ending in 2026, which will likely increase county revenues when it sunsets.

Staff warned members that state ballot measures could change future reimbursements and cap calculations: one August state question may alter manufacturing exemptions and a November question could change growth caps (non-homestead from 5% to 4%, homestead/ag from 3% to 1.75%) and expand the senior freeze, any of which would affect future county receipts. "It shows a total change of 567,739,875 assessed valuation change, which is 5.23% from tax roll of last year," the assessor's representative said, and staff offered to return with detailed dollars per jurisdiction if board members wanted further breakdowns.