2a. 2019 Report
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2a. 2019 Report
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<br /> <br />5 | Page <br /> <br />Building Permit Valuations <br /> <br />2016 was the first year Cass County was able to internally track building permits through our CAMA software. <br />Since tracking began, residential permits have increased 23%, with a 14% jump in 2018 alone. This is directly <br />associated with the growth of bedroom communities such as Mapleton, Casselton, and Horace. Commercial <br />permits saw a large 44% spike after a relatively flat 2017 year. This is largely due to the commerce at Iā29 <br />subdivision in Stanley Township. <br /> <br />Year Residential Permits Commercial Permits <br />2016 $33,276,948 243 $4,682,236 24 <br />2017 $45,760,947 263 $3,093,625 27 <br />2018 $51,867,874 300 $9,235,364 39 <br /> <br />Sales Ratio Analysis <br /> <br />North Dakota property tax is an ad valorem tax. This means, simply, a tax according to value. The true and full <br />value for tax purposes must reflect the market value of the property. To maintain equitable assessments and <br />achieve an accurate portrayal of the market our office conducts a sales ratio study annually. It is the intent of <br />the ND legislature that local assessors use the results of the sales ratio study as a guide in making and equalizing <br />assessments of property. <br /> <br />The State Board of Equalization adopted a tolerance level of 90 to 100 percent for agricultural, residential and <br />commercial assessments for the 2018 sales ratio study. This means that our final ratio analysis, after <br />adjustments, must have a median between 90 and 100 percent. The 2018 residential sales resulted in a median <br />of 92.5 percent, which is within the tolerance levels set by the state. Commercial sales followed a similar trend <br />and resulted in a median of 95.4 percent, which is within the appropriate tolerance level. Adjustments made to <br />both classes of property resulted in the final ratios listed below: <br /> <br />2019 Assessment Ratio Study for Cass County <br /> <br />2018 Measurements Tolerance <br />Median Ratio Residential 95.3% State Mandated 90ā100% <br />Median Ratio Commercial 98.3% State Mandated 90ā100% <br />PRD Residential 1.00 IAAO Guidelines 0.98 to 1.03 <br />PRD Commercial 1.02 IAAO Guidelines 0.98 to 1.03 <br />COD Residential 8.6% IAAO Guidelines Less Than 15% <br />COD Commercial 8.5% IAAO Guidelines Less Than 20% <br /> <br /> <br />
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