For most municipalities, the guarantee of ever-rising property values is history and a new era of estimating property tax revenues based on local market value trends and Prop 8 reassessments has begun. Finance directors are now asking "What would the total assessed value of our city or district look like If The Roll Closed today?"
I-TRaC™ enables municipal finance managers and their consultants to better understand the effect of Prop 8 reassessments on their property tax revenue. The ability to separate Prop 8 properties from Prop 13 properties allows an extra measure of insight into the assessment process and the different factors that influence the forecast.
I-TRaC™ tells you:
- The percentage of your district's property tax revenue now fluctuating with the real estate market under Prop 8 rules rather than being held stable by the consumer price index and the 2% cap imposed by Prop 13.
- The degree of upward or downward pressure the market is putting on property assessment values each quarter so you see the trend months in advance of the July closed roll.
- The property use types most influenced by market changes and whether that influence is increasing or decreasing.
To order this product or find out more, call us at 888-217-8999.