The assessed valuation of Pottawatomie County jumped by nearly $47 million this year, the result of a dramatic increase in the value of state-assessed property.
The assessed value of all property (real, utilities and personal) for 2012 is $458,722,343, according to figures certified last week to the county clerk’s office. That’s an increase of $46,836,577 over last year’s valuation of $411,885,766.
Assessed property valuation is the baseline used by local units of government (cities, counties, school districts) in determining budgets and tax rates for the coming fiscal year. As valuation trends upward, a lower tax levy is required to generate an equal amount of ad valorem tax revenue, and vice-versa.
Much of the 2012 increase is reflected in state-assessed property (utilities and railroads), particularly Jeffrey Energy Center, located in Emmett Township, where the assessed value jumped by nearly $40 million.
Overall, the valuation of state-assessed utilities was up 21.6 percent this year, according to Lois Schlegel, Pott County appraiser.
“That’s pretty major and it’s very good news,” Schlegel told county commissioners Monday.
Of the 23 townships in Pott County, only one––Wamego Township––had a decrease in assessed value. Overall, township valuations increased by more than $46 million.
The assessed value of the 12 cities in the county remained about the same as last year at $103,907,816. Three cities––Emmett, Olsburg and the portion of Manhattan inside the county––lost valuation.
Changes in assessed value for other cities in the county are: Wamego, from $36,230,053 to $36,814,390; St. George, from $3,466,088 to $3,709,655; St. Marys, from $14,425,201 to $14,743,919; Onaga, from $3,268,835 to $3,317,364.
The four primary school districts in the county also saw their assessed valuations increase: USD 320, from $65,289,779 to $67,015,385; USD 321, from $208,073,055 to $250,156,317; USD 322, from $16,933,645 to $17,689,993; and USD 323, from $40,182,274 to $42,166,943.