Growth drove the county’s taxable property base up about 4.1 percent during 2011, according to data provided by the appraiser’s office Tuesday.
Greg McHenry, the Riley County appraiser, said the total valuation of all county property increased about 7.1 percent from the previous year. But much of that increase, he said, was due to tax-exempt construction projects such as the school district’s renovation package, construction at K-State and preliminary work at the NBAF site.
County property owners received change of valuation notices over the weekend. McHenry said those notices generally were close to flat.
“About one-third were up slightly, about one-third were flat and about one-third were down slightly,” he said.
In terms of taxable property, the big driver was the construction of new property, much of it apartment complexes that replaced older and less valuable structures. McHenry said new commercial construction downtown also contributed to the overall increase in taxable property.
County-wide, the value of all property — both taxable and tax-exempt — was put at about $5.01 billion, compared to about $4.75 billion the year before. The value of taxable property was about $3.74 billion.
McHenry put the average sale price of a home during 2011 at about $184,580, down fractionally from $185,000 the previous year.
Those interested in viewing current property values will be able to do so at themercury.com.