2a. 2019 Report - Laserfiche WebLink

7 | Page 2019 Taxable Valuation The tax base is a derivative of the taxable valuation throughout Cass County. The value used for the tax base is the true and full value less any exemptions. This is known as the net assessed value as it represents any property subject to taxation in Cass County. The taxable valuation is determined by applying an assessment ratio of 50% to the appraised value of all taxable property. Then, residential property has a factor of 9% applied and commercial and agriculture use 10%. The taxable valuation multiplied by the mill levy will determine the total revenue received from property taxes. The following table provides a projection of the 2019 taxable valuation. The mill levy will not be determined until November and many changes will occur between now and then. Examples of these changes could be from abatements, errors in assessments, or exemptions filed late. I have provided an estimate of these changes as detailed in the “adjustments” portion of the projection below. The table also contains an estimate of value for centrally assessed property. The state calculates centrally assessed property and provides valuations to the county yearly, each fall. 2019 Taxable Valuation Projections Agriculture 60,451,300$ Residential 73,525,424$ Commercial 16,787,405$ Less Tif (4,394,880)$ Less Adjustments (200,000)$ Plus Centrally Assessed 7,483,390$ Projected Taxable Value 153,652,639$ Ten‐Year Valuation History – Excluding Fargo & West Fargo Year Valuation Percent Change 2010 $ 83,612,366 5.6% 2011 $ 86,576,040 3.5% 2012 $ 93,765,186 8.3% 2013 $ 99,905,297 6.5% 2014 $ 108,123,426 8.2% 2015 $ 117,639,641 8.8% 2016 $ 126,128,070 7.2% 2017 $ 133,043,061 5.8% 2018 $ 142,584,836 7.2% 2019 $ 153,652,639 7.8%