Letter: The information sought by the evaluator is voluntary | Letters to the Editor

The valuation division of the city of Bismarck is responsible for the valuation of all taxable properties within the city limits. It is an ongoing process of collecting and reviewing information, measuring and listing new construction, and analyzing real estate sales to provide accurate and current values ​​each year. The values ​​are used by the Burleigh County Auditor to calculate property taxes for various tax entities such as cities, county, school districts, and the park district.

The assessments are compiled annually and are then presented for approval to the City Equalization Board, Burleigh County Equalization Board, and the North Dakota State Equalization Board. For the City’s share of property taxes, the City uses the approved property values ​​multiplied by the factory levy approved by the City Board to calculate property taxes.

The City of Bismarck Appraiser’s Office collects information on the rental income and expenses of various commercial properties in order to more accurately determine the fair market value of similar properties in the market.

The income-to-value approach is one of three recognized methods used to value commercial assets, in addition to the sales comparison approach and the cost approach. Using all three approaches to valuing commercial property will help the appraiser’s office to establish more accurate, fair and equitable valuations. Many jurisdictions in North Dakota use this same approach to provide equity for their valuations.

The information requested is voluntary. The owner of the commercial building is not required to provide this information to the appraiser’s office. Any information received is kept confidential and helps determine market rents and typical expenses allowing the appraiser’s office to consider the income approach when appraising these types of properties. This request is made annually to assist with analysis in order to continue to fairly assess commercial properties in the town of Bismarck.

Allison Jensen, City of Bismarck Assessor


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