Wednesday, November 26, 2014

Property values up as a result of area growth

By Jason Stuart

Ranger-Review Staff Writer

The total value of property is up in Dawson County and Glendive, while the county taxable values have decreased and the city’s taxable values have increased by a small amount.

The Montana Department of Revenue recently determined those values for the 2014-15 fiscal year.

The total property value for Dawson County is $596,511,063. The total taxable value is $20,228,438.

For the previous fiscal year, those values were $590,440,692 and $20,695,959, respectively.

The value of a single mill for the county this year will be $20,228, a decrease from last year’s mill value of $20,695.

Within the City of Glendive, the total value of property is $167,137,851 and the taxable value is $5,668,991.

Those figures were $156,426,067 and $5,532,517 for the previous year.

The value of a single mill for the city will be $5,668, a slight increase over last year’s mill value of $5,532.

With Montana’s six-year appraisal cycle, property values will not be reassessed until 2015. Therefore the increase in property value is largely attributable to growth. 

Within the city, the bulk of the nearly $11,000,000 increase in total property value is due to new hotel construction, according to Department of Revenue officials.

The tax rate for this fiscal year actually decreased, however, from 2.54 percent to 2.47 percent, which accounts for the decrease in the county’s taxable value and the small increase in the city’s. Those tax rates are set by the state legislature.

Reach Jason Stuart at rrreporter@rangerreview.com.

 
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