Earlier today an update was issued on assessed and total taxable valuations for the upcoming budget year. From a budget standpoint, local governments work with both the total taxable value figure (as reported earlier) and a net taxable value figure, which excludes the taxable valuation in Tax Increment Financing (TIF) Districts.
Total taxable valuation is used for purposes of establishing the Constitutional debt limit, but net taxable valuation is the basis of taxation operating budgets.
Because the net taxable valuation figure is used so heavily in budgeting, it’s valuable to be able to look at both figures.
The table has therefore been expanded to include net taxable valuations. Conclusions would be largely the same in either case.