Preparing for Assessment Drive
It’s that time of year again. We are beginning the process of finalizing property values for 2023. We start this process early to ensure we are ready for the assessment notices to be mailed. We recently finished visiting one-fifth of the county as outlined in Idaho Code for our 5-year plan.
Now we are doing what we call “clean-up reports” to look at those parcels that might have been missed or that the system has identified as having issues that still need resolution. Our appraisal team will then review multiple reports individually and in teams to ensure our values are fair and equitable. This process can take several weeks to complete.
We will also analyze sales data to ensure that all improvements to properties are at market value and enter new rates to determine what adjustments, if any, need to be made to the land schedules. A land schedule is a portion—or neighborhood—of land with multiple parcels with similar market values. As part of the land analysis, we will also look at agriculture rates. This is a very tedious process, but it is one that we take very seriously. Careful analysis ensures that we are being fair and equitable.
Once all analysis and clean-up are completed, we will begin certifying those values, which can also take several weeks to complete. After all the values are certified, we’ll be ready to send out notices. Per Idaho code, assessment notices must be in the mail no later than the first Monday in June.
Property Tax Reduction (Circuit Breaker)
We are also about two weeks away from wrapping up our Property Tax Reduction application season. The Legislature just passed HB 292 into law last Wednesday, March 29, 2023, expanding the eligibility requirements for the Property Tax Reduction Program. This new law effectively increases the annual income limit requirement to $37,000.
If you are 65 as of January 1, 2023, or are a widow or widower, or recognized as disabled on Social Security, or are a Veteran… PLEASE look at your net income for 2022. If you have a net income of $37,000 or less after deducting medical expenses, please come in and apply for this reduction. If you qualify or think you may qualify for the reduction, please make sure you have submitted an application to our office by April 18, 2023. For questions concerning this program, please call our office at 208-236-7260. You can also find a list of qualifications on our website, bannockcounty.us/assessor, or at tax.idaho.gov.
Although this is a very busy time of year for us as we prepare for our Assessment drive, we welcome anyone with questions or concerns to call or come into the office. In fact, we encourage you to reach out or come in any time during the year, not just in June.
I feel as though the past three months as your new Assessor has gone well. It has been great getting out in the public and meeting people as I have held several Property Tax Reduction educational meetings in Marsh Valley, Pocatello, and Chubbuck. I look forward to continuing to improve communication and educating the public as we move forward.