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Equalization report: county taxable value up 5.23% as staff seeks standard tax rate approval
Summary
Equalization staff told the committee county taxable value rose from about $6.5 billion to $6.8 billion (a 5.23% increase); staff attributed the rise to transfers and new construction beyond the state-set 2.7% inflation multiplier and asked the committee to recommend the standard tax rate, noting a millage reduction fraction of 0.9954.
Equalization staff presented the semiannual report and asked the committee to recommend the county tax-rate request to the full board. The presenter noted that county taxable value increased from roughly $6.5 billion to $6.8 billion — a 5.23% change — and explained that the state’s inflation multiplier this year was 2.7%; the presenter said transfers of ownership and new construction generally account for the additional increase.
The presenter also explained a millage reduction fraction of 0.9954 tied to increased taxable dollars available from property transfers; Committee moved to recommend the tax rate to the full board and voted unanimously. Commissioner Pawlowski observed the county’s authorized millage of 5.95 mills and the potential revenue that could be available if an override were sought.
