Tax assessments don’t reflect COVID-19 market

Notices from the City Assessor’s office landing in the mailboxes this week do not reflect the economic impact of the COVID-19 pandemic.

A statement from the city explained that commercial property values rose an average of 8.6% and residential values rose an average of 5.5% prior to Jan. 1, 2020.

According to state law, assessments are based on the market value of a property as of Jan. 1, and economic fallout from the pandemic won’t be reflected in property assessments until next year.