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Gogebic County board adopts 2025 equalized values totaling $1.078 billion
Summary
The Gogebic County Board of Commissioners unanimously adopted the county'wide 2025 equalized values, totaling $1,077,924,392, and authorized signatures on the State of Michigan L-4024 forms after a presentation by Equalization Director Kathy Jo Koval.
Gogebic County commissioners voted unanimously April 9 to adopt the county'wide 2025 equalized values and to authorize signatures on the State of Michigan L-4024 forms.
Equalization Director Kathy Jo Koval presented the 2025 Equalization Report to the board and reported a total equalized value of $1,077,924,392 for the county. Commissioner Lorenson moved to adopt the Agricultural equalized value as presented; Commissioner Cayer supported the motion and the roll-call vote was 7-0 in favor. The board then approved, by unanimous roll-call votes, the Real Commercial, Real Industrial, Real Residential, Timber Cut-Over and Personal Property equalized values on separate motions, each moved by Commissioner Lorenson with various supporters.
The board also voted to approve all classes and to authorize the appropriate signatures on the State L-4024 equalization forms required for submission to the State of Michigan. The unanimous votes followed Koval's presentation and there were no recorded no votes or abstentions.
Why it matters: Equalized values form the county'wide tax base used to distribute state school aid and to calculate millage rates; adopting the L-4024 forms and certifying the values are routine annual steps required by state law.
The board took no further action on the item beyond adoption and signature authorization; the meeting adjourned at 5:13 p.m.
