01. Convene County Board of Tax Equalization

4 | Page 2021 ASSESSMENT YEAR SUMMARY The momentum from the 2020 calendar year carried all the way through 2021 as national rates averaged 2.91% on a 30-year home loan. The median value of a home in Cass County increased 11.5 % from $259,900 to $290,000 and average days on the market dropped from 65 to 46. Since our office finalized county-wide residential property record cards at the end of 2020, we started our reappraisal cycle over with the city of Kindred as well as the townships of Reed, Noble, Wiser, Gardner, Berlin, Kinyon, Bell, and Gunkel. As we visited homes in the reappraisal area, we corrected our records to reflect the property in its current state. Land values were recalibrated, and the property records were further analyzed to reflect each reappraisal areas local market from 2021. Commercial property continued to see accelerated growth in 2021 and our current sales analysis is showing that this class of property will need attention as we head into the next couple calendar years. We plan to review commercial land throughout the 2022 year with hopes of completing a county-wide commercial reappraisal by the end of 2023. Ag land took a slight decrease for the second year in a row from $1,278.11 to $1,224.02 which resulted in a 4% reduction to ag values. This heavily offset growth amongst the commercial and residential classed properties in rural Cass county. Updated property information can be found on our website at: https://cass.northdakotaassessors.com/ The website has seen tremendous growth over the past year as visitors have increase by 60,000 since last year. The goal of the website is to maintain transparency so property owners can review the exact property characteristics used to determine their property value. It also provides an avenue to research sales throughout the region. Our office will continue to track every portion of the market on a yearly basis and apply incremental adjustments as needed.