Assessor reports modest county valuation growth, flags Sagamore wind project depreciation

At the commission meeting the county assessor presented the annual report required under state statute, describing modest valuation changes and programmatic details that affect Roosevelt County’s tax base.

Assessor Mr. Floyd told commissioners the county’s valuation rose slightly from 2023 to 2024 after staff added previously omitted value totaling $12,444,193. He said the veterans’ exemption increase (from $4,000 to $10,000) raised the exempted value and reduced taxable residential value by roughly $2.1 million — about 1% of 2024 residential value. The county’s residential property appraisal ratio was 93.56%, which the assessor said meets state standards indicating residential property is being appraised near market value.

Mr. Floyd also outlined reappraisal progress: the office completed only 8.3% of the planned reappraisal work in 2024 (well below a prior level of 31.4%) because a key employee, representing about 20% of the appraisal workforce, left and required replacement and training. He said staff are working overtime to return to the planned schedule.

The assessor highlighted the Sagamore wind project’s large assessed value but said that project’s value is depreciating at about 4% per year, which has a flattening effect on overall county valuation growth. Commissioners had questions about how state‑assessed property and local ad valorem revenues interact and were told negotiations on PILT or other arrangements could affect net revenues from large state‑assessed projects.

The assessor invited commissioners to ask questions and provided packet materials including sales‑ratio tables, classification counts and the reappraisal plan.