Special Bd. of Aldermen — 07/22/2019 Page 4
Alderman Clemons
| just have one question. So my question is do we anticipate that by doing this there is going to be some
massive swing one way or the other in what the rates currently are?
Ms. Kleiner
So are you asking for the full measure or are you asking with the statistical update? | mean presently we do
see property values still rising, right? So we do see that. How much is a change in value because of the
statistical update that is processed in 2022 and how much is actually from the full measure list data collected
over the three-year period. We will now how much change we see in the data as the years are being
processed, at least the first couple. But then you will see a greater change for those properties are in the third
year of data collection because that will be the year that you are also having the statistical update take effect,
right? But with homes still rising and the fact that one of the reasons that we are addressing doing the full
measure and | list is because it has been so many years since we have done one. It is kind of hard to say
what we are going to find from the data collection.
Alderman Clemons
OK thank you.
Alderman Tencza
Would you agree with me though that this isn’t a way for the City to collect more taxes, if anything is a way to
redistribute how the taxes are collected?
Ms. Kleiner
Correct.
Alderman Tencza
Do you have a sense of will it be, do you have a sense of how that redistribution will take place?
Ms. Kleiner
So as far as the statistical update, that’s based on sales right so that’s based on sales with homes a year prior.
So at that point you will be looking at, it'll be based on sales from April of 2021 to April 2022. In commercial
they will actually be using two years. This is not the City’s attempt, you don’t collect more on taxes, this is a
redistribution where you are going to see if there have been changes to homes that we are not aware of.
Those changes will impact those property values. And if the market continues to have increases like we see
now, you will see increases in 2022 based upon those sales.
Alderman Clemons
Yeah, | mean, | think | understand but | also want to make the point that you know in 2009 we weren’t rushing
to do one of these, you know what | mean? Because property values at that point dropped tremendously. And
it wasn’t exactly a priority. So | am just hoping that we are not looking to do this for the opposite reason of why
we wouldn’t have done it in 2009. If you can read between the lines.
Ms. Kleiner
So if | may, | mean one of the things that we did notice in the Management Audit and it was one of the
recommendations, was it always the City’s best interest to have accurate data. And | think is why we made it a
