In recent years, we have seen a dramatic increase in new residential construction. While building permits for new homes declined about 30% from 2022 to 2023, the year-over-year data suggests 2024 could see another rise in the number of new homes being built.
High demand for housing and a shrinking supply of available homes on the market are likely contributing to the rise in construction. The cost of building materials has stabilized over the last 18 months, which may help explain the recent increase in new home building permits.
Our office monitors building permits issued throughout Bannock County from start to finish. This helps ensure we have the most updated information on each parcel and equips us to provide accurate and equitable assessments. If new construction or major remodeling is happening in your neighborhood, you will likely see our appraisal staff driving or walking around the area. Each year, we work to record any major changes that take place across all property types.
Overall, Bannock County continues to experience strong growth, and we remain committed as an office to having the most accurate data, values, and information available to ensure the most accurate appraisal of each parcel.
Please feel free to reach out any time of the year for any questions or concerns regarding your property. 208 -236-7260