The city’s assessors office announced on June 19th it is halting implementation of this year’s citywide property re-evaluation until 2021 citing the unknown real estate market and fiscal implications of the COVID-19 pandemic. In March, the city announced it was delaying the process to a date TBD.
“Given the unknowns with the changes in the real estate market will see from the pandemic, it would not be prudent to set new rules for the April 1, assessment date. We will continue to analyze market data to see what trends emerge as this crisis continues and make necessary adjustments accordingly,” said Tax Assessor Chris Huff.
Huff added, “achieving uniform fair and equitable property taxation are the paramount goals for our office, especially with a long overdue re-evaluation. However, I feel the potential impact to market values from the pandemic outweighs this concern for the coming year. We would not be doing our due diligence if we did not take into account the market changes that develop. Therefore, we will continue to analyze the market response over the coming months, make many adjdustments necessary and set new assessment values as of 4/1/2021 for the Fiscal Year 2022 tax billing cycle.
This is the city’s first re-evaluation in over 15 years.