Local EAV and TIF Performance

DeKalb County has placed online a variety of property tax information at DeKalbCounty.org. Among the reports are breakdowns of Equalized Assessment Value (EAV) by type of zoning, which include farm, residential, commercial, industrial, and railroad properties.

In City of DeKalb, the two top property tax-producing categories are residential and commercial. You can see below that residential and commercial losses in EAV have driven an overall steady decline since the Great Recession, until last year when commercial property saw a slight rebound (residential again lost a little value).

[easychart type=”vertbar” width=”430″ title=”City of DeKalb EAV in Millions” groupnames=”Total EAV, Residential and Commercial EAV” valuenames=”08, 09, 10, 11, 12, 13, 14, 15″ group1values=”757, 749, 702, 669, 608, 549, 523, 526″ group2values=”695, 685, 643, 611, 555, 499, 474, 476″ minaxis=”473″]

I also checked EAV in the tax increment financing (TIF) districts, because there is no more important sign of success for a TIF district than increased EAV.

[easychart type=”vertbar” width=”430″ title=”DeKalb TIF EAV in Millions” groupnames=”TIF Total EAV, TIF 1 EAV, TIF 2 EAV” valuenames=”08, 09, 10, 11, 12, 13, 14, 15″ group1values=”111, 105, 94, 87, 74, 63, 58, 58″ group2values=”77, 76, 70, 67, 62, 57, 54, 55″ group3values=”48, 48, 45, 42, 38, 34, 32, 32″ minaxis=”31″]

TIF EAV has fallen worse than DeKalb’s overall, and (though not explicitly shown in the chart) has gone from a share of 15% of total city EAV to 11% during the time period we’re looking at. Considering that both TIFs are set to expire in the next couple years, this poor performance should prompt us to question seriously DeKalb’s judgment in selecting redevelopment projects.