Tooele County wants to help commercial and apartment property owners by making sure their 2021 property assessment reflects the impact COVID-19 may have had on their businesses.
“The Tooele County Assessor Office recognizes the personal hardship and economic burden the recent COVID-19 pandemic has had on our community and understand this is not an ideal situation for taxpayers, families or businesses,” reads a letter sent to commercial property owners in Tooele County for the County Assessor Office.
The letter asked property owners to complete a confidential online survey. The survey is designed to collect current data from commercial property owners, including information on how COVID-19 has impacted the business’s bottom line.
Income producing property is primarily bought and sold based on the ability to earn a profit.
A reduction in that profit earning capability may be a component of the property’s valuation, Parkinson said.
Parkinson anticipates some businesses may be more impacted than others.
Economists have said the hospitality industry — hotels, motels, restaurants — have been hit hard by COVID-19 restrictions and mandates, while some retail businesses, warehouses, and distribution centers may be doing better than previous years.
The letter sent to commercial and apartment property owners includes their parcel number and a pin number along with a link to the survey.
The data needed to update the assessed value depends on the type of property. The survey populates the screen with the appropriate form for the property type.
The assessor’s office asks that the surveys be completed by Jan. 15.
Property owners with questions may reach out to Parkinson at firstname.lastname@example.org or 435-840-3104. But he asks for people to be patient as the survey letter was sent to over 600 property owners.