Few appeal new valuations, but …

In a Coeur d’Alene Press story this AM, Brian Walker reports on the Board of Equalization hearings this year. Despite a red-hot real estate market, only 39 property owners for 67 properties appealed their new valuations, the lowest amount in at least 15 years. Commissioner Dan Green attributed this year’s low number to a strong real estate market. The rise in value for the majority of local properties was not a surprise for most residents, he said. “We’re in a market that’s appreciating — nobody denies that,” Green said, adding the assessments are based on real estate sales in 2015. So what’s the down side? The 2016 Legislature capped the homeowners exemption at $100,000 this year. So properties over $200,000 are going to feel the bite in real dollars when they get their property tax bills. Coeur d’Alene Press story here.

Question: Are you expecting your property taxes to go up significantly this year?