BOISE – Ada County property owners will receive 2024 Assessment notices in the mail in the coming weeks. Idaho code requires assessments reflect market value as of January 1st, 2024. The Assessor analyzed sales (or leases, in the case of income-producing properties) that went under contract or closed prior to January 1st to develop 2024 assessed values; transactions that have occurred since January 1st are being closely analyzed for next year’s assessed values.
Last year many residential property owners saw decreases in value based on the market declining between the May 2022 peak and January 1st, 2023. This year residential values are increasing in most areas due to 2023 market gains. Most value-increases are modest, but some pockets will see substantial increases due to market activity.
“Our office is continually monitoring the market to ensure fairness and equity in our assessments,” said Ada County Assessor Rebecca Arnold. “We are also providing you with more information including the total property taxes for the two prior years and the percent change for each district.”
Included with your 2024 Assessment notice is a one-page insert with important information about property tax relief passed by the Idaho Legislature effective July 1, 2024.
Finally, if you believe your assessed value does not accurately reflect the market value of your property on January 1st we suggest you speak to your county appraiser – their contact information can be found near the upper right corner of the assessment notice. If you and the appraiser don’t reach an agreement, you can file an assessment appeal with the Ada County Board of Equalization (BOE). The statutory deadline to file an assessment appeal is the 4th Monday in June – this year, that is June 24th. Below are links to valuable appeal-related information for your convenience:
What to do When You Receive an Assessment Notice (arcgis.com)