Assessor: County net assessed value rose by about $568 million; state ballot measures could change reimbursements and caps

The county assessor presented a supplemental with a net assessed valuation change of $567,739,875, an increase of roughly 5.23% from the prior tax roll. The assessor identified new downtown TIFs and noted that downtown TIF 2 is in its last year and will come off next year, which will yield an estimated increase in taxable value when the TIF expires.

Staff also flagged two state ballot questions that could affect county revenues if passed: one in August (state question 844) concerning five-year manufacturing exemptions and how much the state reimburses counties, and another in November that would change growth caps for non-homestead and homestead properties. The assessor said these measures could reduce statewide reimbursements or change local growth caps and that the county would monitor impacts when state reimbursements are clarified.