November 19, 2018

County’s taxable value increases by $4M

Posted

MIO — The county’s taxable value increased by $4 million over the last year, leading to an increase in revenue.

That information came from the county’s recent apportionment report given at the Oct. 23 county commissioners meeting. Equalization Director Casey Guthrie said the increase came from a combination of factors including sales, new construction and inflation.

Guthrie said the increase this year is substantial.

“That’s not an average increase,” he said. “Some years they lose taxable value. One of the years I’ve been here it decreased by about $5 million.”

Guthrie said the increase is a positive thing for the county, as the more taxable value the county has the more money the county has to operate and work with throughout the year.

Guthrie said this is the second year in a row the county has increased its taxable value.

“When I took over in 2016 for my first apportionment report … I could tell there was going to be a decrease in taxable value,” he said. “In 2017 it increased by $2-3 million and in 2018 by $4 million.”

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