(Bannock County Assessor’s Office, November 3, 2025)
November has arrived! It’s hard to believe we’re just weeks away from welcoming a new year.
For our office, this time of year marks the beginning of our analysis process for the upcoming assessment cycle. Recently, our Consulting Appraiser from the Idaho State Tax Commission (STC) visited to conduct a preliminary ratio study. This study will be run again in December or January. If the results show that we’re out of compliance, we’ll need to make the necessary adjustments before sending out Assessment Notices in June 2026. For now, everything is still preliminary since our team is actively conducting appraisals for the 2026 assessment year.
Just as a quick reminder—here’s what a ratio study is and why it matters. We collect as much sales data as possible from multiple sources, including through sales verification letters sent to buyers and sellers. Idaho is a non-disclosure state, which means you’re not required to share your sale information with us. However, when you do, it helps us ensure property values are more accurate and aligned with true market value.
Once we’ve gathered the sales data, we enter it into our appraisal system (ProVal). When the State runs its program, it compares our current assessed values with actual sale prices. The goal is for our assessments to fall within 90% to 110% of market value. (Remember this is mass appraisal, so is just not based on one sale). The study includes all property categories—residential and commercial (both improved and bare land)—as well as manufactured homes. This part of the year always makes me a little nervous since no one likes making large adjustments, but it ultimately depends on how the market is performing. We have noticed some changes in the market, so I’m eager to see what the results show.
The same process applies to agricultural land. Crop prices play a big role in determining whether AG values increase or decrease. Over the next few months, we’ll be sending out surveys to local farmers to gather price information. In the past, we’ve relied on USDA prices, but they don’t always reflect our local conditions. This is our third year conducting these surveys—something we started when I took office in 2023. Once we’ve built a five-year average, we’ll be able to base values on our own local data.
We’re also finalizing our Occupancy and Subsequent Assessment Rolls, and those notices will be printed and mailed soon. If you read my October newsletter, you’ll remember I shared more details about that process.
Over the next few months, as we continue our analysis, I’ll have a clearer picture of where our 2026 values are headed—and I’ll be sure to keep you updated. By January, we’ll be gearing up for Assessment Drive, which typically begins in May.
Wishing you all a wonderful November and a very Happy Thanksgiving!
~ Anita Hymas
Bannock County Assessor
