Video & Transcript Research : 'valuation'
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MO
Missouri 2026 Regular Session
Special Committee on Property Tax Reform Jan 13th, 2026 at 12:00 pm
Special Committee on Property Tax Reform
NH
Transcript Highlights:
- <00:37:33.599>
would Charles Town's remaining valuation would Charles Town's remaining valuation - :00.800>
of <00:46:02.000>the decreases the uh valuation of the decreases the uh valuation - <00:49:19.440>
applies <00:49:20.240>to Lebanon valuation applies to Lebanon valuation - uh valuation uh valuation and<01:07:09.039>
we <01:07:09.359>ought <01:07:09.440>- Um, $312 billion in property valuation. Yeah, all valuation.
MN
Transcript Highlights:
- <00:02:26.400>
and Revenue will put out a valuation and Revenue will put out a valuation and - <00:02:40.760>
will <00:02:40.959>be valuation will be valuation will be lowered<00:02: - And it's not cheap for us either to complete these valuations.
- both in the actual valuations themselves and then producing the cap rate study that we do.
- The next valuation, where they need to relook at the value, is 2028.
KY
Kentucky 2026 Regular Session
Public Pension Oversight Board (6-1-26)
Transcript Highlights:
- . valuation. valuation.
- <00:11:43.200>
and of going back to that valuation and of going back to that valuation and - Um, and valuation, but the next one.
- that audit that pertain to the valuation that audit that pertain to the valuation that<00:15:29.199
- They have to of the valuation now.
Keywords:
Meeting Start: 00:00:09
Attendance Roll Call: 00:01:42
Approval of Minutes: 00:03:23
Overview of Actuarial Audit Process: 00:03:47
Overview of Reemployment After Retirement Provisions: 00:25:26
Teachers’ Retirement System: 00:25:26
Kentucky Public Pensions Authority: 00:50:32
Adjournment: 01:02:55, 958, all
Summary:
The meeting began with quorum, approval of the prior minutes, and an announcement that the June meeting had been canceled and replaced by this combined May/June meeting; the next official PPOB meeting was announced for July 21 at 2:30. Staff then gave an overview of the Public Pension Oversight Board’s required actuarial audit process, explaining that House Bill 238 requires a review every five years of the retirement systems’ actuarial assumptions and methods, funded by the systems themselves. The presentation distinguished this audit from a financial or forensic audit, described the three possible audit levels (full replication, limited/spot review, or basic review), and noted that the last audit in 2021 was a level one performed by Milleman Consulting at a cost of about $190,000. Members discussed timing for the next audit cycle, with a request to LRC likely needed in July or August to target the June 30, 2026 valuation, and several members expressed interest in another level one review. Questions also addressed whether prior audits found major issues; staff said the 2021 review was generally clean but recommended more consistency in reporting and assumptions across systems.
The committee then welcomed new staff and interns, including Odet Guanzi of KPPPA and Team Kentucky intern Amamira Bowman. Bo Barnes of the Teachers Retirement System presented an overview of the statutory framework for reemployment after retirement under KRS 161.605. He explained that the law is intended to let retirees return to help with staffing needs, do so in an actuarially sound way through required contributions, and keep TRS compliant with federal tax rules for a qualified plan under section 401(a). Barnes described the required breaks in service and earnings limits for retirees returning part-time or full-time, including the three-month or 12-month break depending on the employer, the 6,900-day limit, and the daily wage threshold based on years of service. He also noted a lightly used critical shortage program that allows school districts to hire retirees without a wage cap, while still observing the break-in-service rules.
Members asked questions about who decides the scope and level of the actuarial audit, how the audit would treat leave balances and other benefit-related items, and whether the prior level one audit identified substantial problems. Staff said the committee would request the audit, but LRC would handle contracting, and that the audit scope could include items like sick leave and annual leave costs if requested. On the reemployment topic, Barnes emphasized that the rules are designed to avoid pre-arranged retire-and-return arrangements that could jeopardize TRS’s tax-qualified status. No formal votes were taken beyond approving the minutes, and the meeting concluded with the presentations and discussion of these pension oversight issues.
LA
Louisiana 2026 Regular Session
Public Retirement Systems Actuarial Committee Jun 22nd, 2026
Transcript Highlights:
- So page one of the original valuation: this is the summary of the valuation results at the very bottom
- Page two of the valuation shows the breakdown by plan.
- The next slide shows the revision to page 14 of the valuation.
- The next slide shows the revision to page 14 of the valuation.
- So the valuation report includes two UAL tables.
Summary:
The Public Retirement Systems Actuarial Committee met on June 22 and approved the minutes from the February 23, 2026 meeting. There was no public comment. The main discussion focused on Louisiana State Employees’ Retirement System (LASERS) and how appropriations from House Bill 312 of 2026 affect the system’s actuarial valuation and employer contribution rate for fiscal year 2027.
Staff explained that HB 312 provided about $145 million in appropriations to LASERS, with roughly $87.6 million applied to the original amortization base and about $57.9 million applied to the experience account amortization base. As a result, the projected aggregate employer contribution rate for the fiscal year beginning July 1, 2026 was revised from 32.51% to 30.05%, a reduction of 2.46%, and the required projected employer contribution was updated to about $738.7 million. The presentation also noted that the June 30, 2025 valuation itself did not change, only the projected 2026 rate, and that the original amortization base would be paid off by June 30, 2026.
Committee members asked about the longer-term effect of the changes, including a projected 2036 payment reduction. Staff explained that later-year UAL payments would be lower, but that the exact savings would depend on future actuarial experience and investment performance. The committee then adopted the motion to revise the projected fiscal year 2027 LASERS aggregate contribution rate to 30.05%, subject to the appropriation, and later adjourned without opposition.
ND
Transcript Highlights:
- You take rural counties where their valuations might be steady at best.
- What's been the average valuation increase?
- and that's mill valuation and stuff, too.
- Commissioner, valuation—some of us have been contacted by the public.
- They'll have a... ...and get numbers trued up in terms of valuations.
Summary:
The Budget Section met to approve prior minutes and receive a series of budget, revenue, and program updates from OMB, the Tax Department, DOT, DMR, and DPI. OMB reported that general fund revenues through May were about $76 million below the legislative forecast, driven mainly by individual income tax and sales tax shortfalls, though the biennium is still projected to end with a positive balance. OMB also reviewed oil price and production assumptions, the budget stabilization fund transfer above its cap, Legacy Fund performance, federal grant applications, fiscal irregularities, tobacco settlement proceeds, budget guidelines for agencies, vacancy savings, and the DAPL settlement, noting that most of the settlement funds had been deposited but a small amount of accrued interest would require a future deficiency request.
The committee then considered Emergency Commission requests. It approved requests for Public Service Commission abandoned mine lands federal authority, an Attorney General FTE and related funding for criminal investigator work tied to the Office of Guardianship and Conservatorship, and a DPI transfer for bridge software costs. After discussion, the committee also approved DPI’s request for a $500,000 transfer for the food vendor program, despite questions about the program’s savings and cash-flow structure. Later, the Tax Commissioner presented the primary residence credit program, reporting that current biennium costs are expected to exceed the appropriation by about $22 million and explaining how the credit interacts with homestead and disabled veteran credits and the 3% property tax levy cap.
The Legacy and Budget Stabilization Fund Advisory Board reported strong returns for both funds, and DOT sought and received approval for two flexible fund highway projects on ND 49 and ND 31. DOT also updated members on Highway 85 construction and said remaining flex fund dollars were essentially fully allocated. DMR reported on the abandoned well plugging and site reclamation fund, noting North Dakota’s relatively small orphan well inventory, current and projected fund balances, rising remediation costs, and a possible need to adjust the fund cap in future sessions. Finally, DPI outlined the new integrated formula gap funding program, explaining that it compensates school districts that cannot reach the assumed 60-mill local contribution because of the 3% levy cap; the first year’s gap funding totaled about $1.8 million, with future costs expected to grow.
ND
North Dakota 2025-2026 Regular Session
Budget Section Jun 24th, 2026
Transcript Highlights:
- And that's mill valuation.
- mill valuation and stuff, too.
- Commissioner, valuation, some of us have been contacted by the public.
- Not only valuations, but if there is a large project, what is happening with, not only valuations, but
- They'll have a... ...and get numbers trued up in terms of valuations.
Summary:
The Budget Section approved the March 18 minutes and received an OMB update showing the general fund is still ahead of the budgeted starting point, but revenues through May are now about $76 million below the legislative forecast, driven mainly by individual income tax and sales tax shortfalls. OMB also reported the budget stabilization fund is above its cap, meaning a transfer to the general fund is expected, and reviewed oil price/production assumptions, noting continued volatility. Members asked about the income tax netting process, the sales tax decline, oil price discounts/premiums, natural gas taxation, and when the executive branch would present its revenue forecast.
The committee then acted on several Emergency Commission requests. It approved, as a group, requests for federal mine reclamation funds for the Public Service Commission, an additional criminal investigator FTE and funding for the Attorney General’s office, and a DPI transfer for bridge software costs. It separately approved DPI request 2164 for $500,000 to support the food vendor program after debate over whether the program’s savings were known and whether the money was simply a pass-through. OMB also reported on federal grants, fiscal irregularities, tobacco settlement proceeds, budget guidelines for agencies, FTE pool usage, vacancy savings, and the DAPL settlement, noting the settlement funds had been deposited and that a deficiency appropriation may be needed later to cover remaining accrued interest.
Tax Commissioner Brian Kroshus presented on the primary residence credit program, saying participation has grown sharply and that the current biennium will likely need about $431 million, roughly $22 million above the appropriation. He explained how the credit interacts with homestead and disabled veteran benefits, how the 3% property tax cap works, and why county valuations and mill rates vary. The committee also received a Legacy Fund/Budget Stabilization Fund report showing strong returns, and DOT Director Ron Henke received approval for two Flex Fund highway projects on ND 49 and ND 31. Henke also explained remaining Highway 85 funding and said the department is exploring uses for leftover state dollars. Finally, the Department of Mineral Resources reported on abandoned well plugging and site restoration, noting North Dakota remains in relatively strong shape compared with other states, and DPI began a presentation on gap funding tied to the 3% levy cap, reporting 24 districts received $1.8 million in the first year and projecting higher future needs.
LA
Louisiana 2026 Regular Session
Public Retirement Systems Actuarial Committee Jun 22nd, 2026
Transcript Highlights:
- So page one of the original valuation.
- This is the summary of the valuation results at the very bottom of that page.
- Page two of the valuation shows the breakdown by plan.
- The next slide shows the revision to page 14 of the valuation.
- This next table is one that is typically at the very end of the valuation.
Summary:
The Public Retirement System Actuarial Committee met on Monday, June 22, with a quorum present and approved the prior meeting minutes. There was no public comment. The main item was an actuarial update from Ms. Johnson on LASERS, prompted by House Bill 312 of 2026, which appropriated about $145 million to LASERS and required the committee to revise the projected fiscal year 2027 employer contribution rate to reflect the funds received.
Ms. Johnson explained that $87.6 million was applied to the original amortization base, paying it off, and the remaining $57.9 million was applied to the experience account amortization base. As a result, the projected aggregate employer contribution rate for fiscal year 2027 was reduced from 32.51% to 30.05%, a decrease of 2.46%, with the projected employer contribution amount revised to about $738.7 million. She also noted that the original amortization base balance would be zero by June 30, 2026, while the experience account amortization base would continue to be paid down over time.
Committee members asked about the longer-term impact of the changes, including a question about projected savings in 2036. Ms. Johnson said the later-year savings would depend on future actuarial experience and investment performance, but the projected UAL payment in that year would be lower under the revised schedule. The committee then moved to adopt the revised projected fiscal year 2027 LASERS contribution rate of 30.05% by plan, the motion was seconded, and it passed without opposition. The meeting then adjourned.
NM
New Mexico 2025 Regular Session
IC - Investments and Pensions Oversight Sep 12th, 2025
Investments & Pensions Oversight Committee
Transcript Highlights:
- It was nonsense in 1929 when the stock market reached high valuations.
- Valuations tend to be mean-reverting.
- That's a little toward the low end and mainly due to the U.S. valuations.
- We actually like the valuations of foreign stocks pretty well.
- We modeled it on our current valuation numbers. The FY25 valuation won't be out till October.
MN
Minnesota 2025-2026 Regular Session
Assessment data in property tax litigation 2/26/26
Minnesota House Floor Meeting
Transcript Highlights:
- Appeals are being dismissed without ever reaching the valuation merits.
- owners appealing valuations Property owners appealing valuations must<00:03:34.959>
disclose < - without ever reaching the valuation without ever reaching the valuation merits.<00:04:31.040>
- which has no impact on the valuation. which has no impact on the valuation.
- . valuation. valuation.
OK
Transcript Highlights:
- New valuations come in.
- That increase in valuation hits usually in one year.
- Being at 2%, makes the valuations not keep up with inflation.
- It's not that the valuation whether or not the valuation increases. The rate of increase.
- And yes, valuations generally go up.
FL
Transcript Highlights:
- The presentation is on ad valorem valuation and the exemption process by Lauren Levy, with Paul Polk
- We have just valuation criteria that is set forth in the state. we have just valuation criteria that
- The general definitions are that both are systematic processes in how you approach valuation.
- In arriving at your final valuation, you have to look at three potential approaches to value.
- We look at our stuff internally when we do our valuations.
Summary:
The Committee on Finance and Tax met with a quorum present and heard a presentation from the Property Appraisers Association of Florida on ad valorem valuation, exemptions, and the property tax process. Lauren Levy reviewed the legal and historical framework of Florida property taxation, including Save Our Homes, the 10% cap on non-homestead assessments, portability, tangible personal property exemptions, TRIM notices, and the distinction between taxable value and millage rates. He emphasized that property appraisers are independent constitutional officers who assess just value, administer exemptions, and are overseen by the Department of Revenue, with values and exemptions generally determined as of January 1 and subject to challenge through the Value Adjustment Board or circuit court.
Mike Twitty described the mass appraisal process in Pinellas County, explaining how property appraisers value large numbers of parcels using the same core approaches as fee appraisals but with statistical testing, field reviews, aerial imagery, and technology. He discussed the importance of budget, staffing, and the January 1 valuation date, and noted that recent hurricanes caused significant damage, increased petitions, and required new procedures to help property owners with value reductions and FEMA-related issues. Paul Polk focused on Department of Revenue oversight, explaining sales ratio studies, uniformity measures such as COD and PRD, time adjustments, sales qualification reviews, and in-depth studies that can lead to corrective action if assessment standards are not met. He also noted that the Department reviews property appraiser budgets to preserve independence from county pressure.
Senators asked about the supersized homestead concept, DOR review and rejection standards, value trends, and the impact of storms and new construction on taxable value. Twitty and Polk said value growth has been driven by a mix of new construction, market appreciation, cap resets, and storm-related adjustments, while noting that some counties saw market value decline even as taxable value rose. They also said some property tax relief proposals would be easier to implement than others depending on how local tax bills are structured, especially where law enforcement millage is separately identified. No votes were taken on legislation, and the committee adjourned after the presentation.
MN
Transcript Highlights:
- <00:08:07.520>
and <00:08:07.639>the the valuation and the the valuation and the classification - had their basis for valuation had their basis for valuation established<01:15:58.480>
by < - Also, recent valuation increases in the egg tax base have far outpaced valuations of commercial, industrial
- Also, recent valuation increases in the egg tax base have far outpaced valuations of commercial, industrial
- Also, recent valuation increases in the egg tax base have far outpaced valuations of commercial, industrial
ND
Transcript Highlights:
- You take rural counties where their valuations might be steady at best.
- And that's mill valuation. Mr.
- mill valuation and stuff, too.
- Commissioner, valuation—some of us have been contacted by the public.
- They'll have a... ...and get numbers trued up in terms of valuations.
MN
Minnesota 2025-2026 Regular Session
Legislative Commission on Pensions and Retirement - 02/24/26
Minnesota Senate Floor Meeting
MN
Minnesota 2025-2026 Regular Session
Tax Expenditure Review Commission 6/17/26
Minnesota House Floor Meeting
Transcript Highlights:
- And third, we have the special use valuation, which is a preferential valuation provision within the
- , which is a preferential valuation, which is a preferential valuation<01:19:54.040>
provision - review presentation is a special use valuation, which is a preferential valuation provision within the
- is a preferential valuation which is a preferential valuation provision<01:27:36.160>
within < - <01:29:14.040>
over qualify for special use valuation over qualify for special use valuation
Summary:
The Tax Expenditure Review Commission met on June 17, 2026, approved the January 20, 2026 minutes, and then adopted updated commission procedures. The procedural changes, presented by Legislative Budget Office Director Christian Larson, required a quorum of voting members to complete evaluations before a formal recommendation vote, and allowed members to bundle or unbundle tax expenditures for voting. The commission approved the revised procedures by roll call vote, with five ayes and four excused.
The commission then reviewed member evaluation summaries for tax expenditures presented in December 2025 and January 2026. It first considered the alcoholic beverage tax credits for small brewers and microdistilleries, and after discussion voted to recommend repeal of those two expenditures, while leaving the small winery credit for a later meeting because it lacked enough member responses under the new procedures. The vote on the repeal recommendation passed 4-1, with Commissioner Marquart voting no.
The commission next approved the lawful gambling bundle, which included bingo, raffle, and related exemptions. Larson reported that most members recommended continuation for each item, and the commission voted to recommend continuing all six lawful gambling expenditures. It then reviewed the residential utility services bundle—residential heating fuels, residential water services, and sewer services—where members generally favored continuation but several noted possible modifications or caps for higher-income users; the commission voted to recommend continuation of the bundle.
Finally, the commission reviewed the data center equipment sales tax exemption, which Larson said had an estimated annual revenue loss of $95 million and was intended to create jobs in construction and data center industries. Members raised questions about its effectiveness and whether the exemption should be modified or capped, but the commission ultimately voted to recommend continuation. The meeting concluded with these recommendations set to be included in the commission’s 2026 annual report.
NM
New Mexico 2025 Regular Session
IC - Land Grant Sep 8th, 2025
House Rural Development, Land Grants And Cultural Affairs
Transcript Highlights:
- The question is valuation: what is the market or marketability of any of these improvements that are
- There may be a need within the tax code that specifically addresses how valuations or taxation on the
- You need to be able to rebut that presumption that the valuation is correct.
- So that would potentially be a factor into determining the valuations. It didn't get used.
- This current valuation, because Chile didn't even know that was an option.
NM
New Mexico 2025 Regular Session
House - Agriculture, Acequias And Water Resources Feb 4th, 2025
House Agriculture, Acequias And Water Resources
Transcript Highlights:
- Yes, you can lose your agricultural valuation due to your aggregation, depending on what agricultural
- valuation you have on that land and what crop you're growing on it.
- The county does not, so they're making those valuations and assessments on a different set of information
- So for me also, that's not my understanding of how the valuation works.
- Potential loss of their valuation.
AZ
Arizona 2026 Regular Session
05/19/2026 - Senate Natural Resources
Senate Natural Resources Committee of Reference
Transcript Highlights:
- Then the 2008 hit, valuation circumstances changed, and I had an opportunity to go to work at Maricopa
- I started as an appraiser one, and as a 12-year veteran in valuation, it was a little shocking to me,
- but I moved my way through the ranks and got to understand property valuation and taxation from the
- I do feel very blessed that valuation and statutory compliance, and, you know, impartial judgment from
- You know, and we know what the valuations are on something that's state land that's out here in Queen
Summary:
The Senate Natural Resources Committee met to consider several board nominations, beginning with four nominees to the Arizona Game and Fish Commission Appointment Recommendation Board. Michael Cravens, Jared Lyman, Nathan Reese (who submitted a written statement and did not attend), and Richard Williams each described their backgrounds in wildlife management, ranching, public lands, or conservation, and emphasized balance, pragmatism, and public service in selecting commission candidates. Members asked about their experience, perspectives on candidate evaluation, and the role of the board. Each nominee was advanced to the full Senate by separate motions, all approved on 7-0 votes with one member not voting.
The committee then heard Darren Rasmussen’s nomination to the Arizona State Land Department Board of Appeals. Rasmussen discussed his long career in property appraisal at the private, county, and state levels, including work with county assessors and valuation training. Senators focused on his ability to bring transparency, statutory compliance, and consistency to state land appraisals and appeals. His nomination was also forwarded to the full Senate on a 7-0 vote with one not voting.
Next, the committee considered the Arizona Livestock Loss Board nominees, Stephen Clark and Randy Dahl. Clark, who chairs the board, explained the board’s process for compensating ranchers for wolf depredation and described the distinction between confirmed losses and “probables.” Senators asked about reimbursement procedures, the range of Mexican gray wolves, and whether wolves had attacked humans in Arizona; Clark said there had been no human attacks in the state and that livestock losses had been compensated. Dahl was unable to attend but submitted a statement citing his farming background and business and engineering experience. Both nominees were confirmed by 7-0 votes with one member not voting.
Finally, the committee heard from Carolyn Radajack and Stephanie Teske for the Arizona State Veterinary Medical Examining Board. Radajack highlighted her prior service on the board’s investigative committee and her experience with disciplinary rules, while Teske emphasized her background as a sixth-generation rancher, veterinary assistant, and agriculture regulator, with a focus on rural livestock care and access to veterinarians. Senators discussed rural veterinary shortages, telemedicine, and the changing structure of veterinary practice. Both nominees were advanced to the full Senate on 7-0 votes with one member not voting.
AZ
Transcript Highlights:
- You know, different things as far as valuations notices, all of those types of things.
- Isn't there a cost if the... ...as far as valuations, notices, all of those types of things.
- Isn't there a cost if the valuation is done incorrectly, whatever is rural?
- The change in valuation did increase the full cash value of the crops. So they were out of date.
- The change in valuation did increase the full cash value of the crops.
Keywords:
property tax exemption, disability, veterans, widows, income limits, Arizona Revised Statutes, property tax, electronic communication, tax assessment, tax correction, real estate, agriculture, tax classification, land use, nonprofit organizations, transaction privilege tax, tax exemption, textbook rental, education, business leasing
Summary:
The House Ways and Means Committee heard and advanced several tax-related bills. HB 2261, by Rep. Griffin, would rename and clarify the agricultural real property classification in statute to align with court rulings on valuing permanent crops such as orchards and vineyards under the income approach. Supporters argued it codifies existing law and avoids unnecessary litigation costs, while county assessors and the Arizona Association of Counties opposed it, asking the committee to wait for the pending Arizona Supreme Court case. After discussion about the court history and valuation methods, the committee passed HB 2261 on a 5-3 vote with one absent.
The committee then unanimously or near-unanimously advanced HB 2173, which allows tax officers and taxpayers to use electronic responses for notices of proposed correction and notices of claim unless certified mail is required. County assessors supported the bill as a modernization that could reduce delay, paper, and postage costs, and members discussed whether the statute should require periodic reauthorization of email contact. HB 2120, which adds the Social Security Administration to the definition of competent medical authority for property tax disability exemptions, also passed, though one member voted present and another no while seeking more information about how it would interact with existing disability documentation requirements.
Two additional bills were also approved. HB 2786 would extend a tax deduction to gross proceeds from leasing or renting textbooks required by state universities or community colleges, including digital textbook rentals, and was supported as student relief and tax parity for rental versus physical books. HB 2792 would fully exempt from property tax the primary residence of a veteran with a 100% service-connected disability, and would treat a jointly owned primary residence as fully owned by the veteran for exemption purposes; assessors said the bill was a needed cleanup measure to clarify implementation. Both bills received strong support and were returned with do-pass recommendations, and the committee adjourned after completing the agenda.