Impact of COVID-19 on house assessments may take years to appear
Photo by Kyle Norby (flight courtesy Desert Rat Aviation)
COVID-19 has left a lot of economic markers in its wake, but one of the last pockets of the economy where it may appear is in property assessments.
Assessments are done in a two-year cycle. The Pinal County Assessor’s Office finished its assessments for 2021 in March. Next March, staff will begin working on 2022.
While some areas of the economy, such as unemployment, are shaky in the short term, “it is stable revenue for the county,” said Assessor Douglas Wolf.
The CARES Act suspended foreclosures during the pandemic, but they could begin showing up in six months to a year if, in fact, Pinal County property owners suffered serious economic meltdown.
