Herschlag: The Myth Of Economic Development In Concord

City councilors and the administration tout the importance of economic development. Yet the data shows commercial values have barely risen compared to the city’s total assessment and more importantly when compared to the value of residential properties.

A chart on page 223 in the 2026 Budget allows you to compare residential and commercial assessed values from 2015 to 2024.

Here are some approximate comparisons. From 2015 through 2024 the city’s total assessed value increased 39%; residential properties increased 55%; but commercial property values only increased 15%.

In 2015 residential property values made up approximately 56% of assessed value while commercial properties accounted for 40%.

In 2024 residential properties were 60% of assessed values and commercial values dropped to 32%.

The percentages do not add up to 100% because I haven’t figured in the assessed values of utilities.

Economic development has been a priority of the city council and administration for years. Yet commercial properties aren’t helping to relieve residential property taxes. Instead homeowners have taken on a greater share of paying for the city’s services year after year.

History can be a good indicator of what to anticipate in the future. Looking at many on the current city council it is difficult to expect they are willing to bring fiscal sanity to our city.

If you are looking to vote for someone who will advocate for fiscal responsibility while serving on the city council, you need look no further than voting for Bob Washburn for councilor at large.