Moffat County assessed value better than initial estimates
Reassessment softens blow to state assessed values
August 21, 2012
At its regular meeting Tuesday, the Moffat County Commission:
• Approved, 3-0, a resolution granting the board of county commissioners the authority to issue special events permits.
• Approved, 3-0, an $18,430 bid from SGM to perform engineering services at Shadow Mountain.
• Approved, 3-0, an $8,610 bid from Warne Chemical and Equipment for a 500-gallon roadside weed sprayer for the pest management department.
• Approved, 3-0, a $3,335 bid from Auto Parts of Craig for a flatbed truck body for the pest management department.
• Heard presentation from members of the Moffat County High School student council about attending the presidential inauguration.
• Approved, 3-0, appointing Tony Bohrer to a vacancy on the Moffat County Tourism Association Board.
• Approved, 3-0, Department of Social Services July 17 meeting minutes.
• Approved, 3-0, Department of Social Services administering the eligibility process for the low-income energy assistance program.
• Heard Department of Social Services monthly reports.
Moffat County's assessed value is going to drop a few points this year, but the hit is not as hard as initial estimates.
Moffat County Assessor Robert Razzano presented the Moffat County Commission Tuesday with an updated report of the county's current valuation.
According to the abstract, which was approved, 3-0, by the commission, the county's total assessed valuation is expected to drop in 2012 by $2.9 million, or .61 percent, to $484.1 million.
Moffat County's 2011 final valuation was $487.1 million.
Tax revenues are expected to decrease by about $40,000 as a result of a lower overall assessed value, Razzano said.
Despite the decrease in value and anticipated loss of tax revenue, the assessor's office report was not as troubling as initial estimates.
Razzano presented the commission last month with an estimate showing Moffat County's assessed valuation dropping by as much as $11.8 million, or 2.43 percent, to $475.2 million.
Tax revenue losses also were estimated to be as high as $275,000.
Razzano credited the more favorable outlook to a reassessment of the oil and natural gas industries and a higher-than-anticipated increase in agricultural values.
Moffat County also was bailed out by a slight increase in its state assessed values, Razzano said, which makes up $215.3 million, or 44.48 percent, of the county's 2012 total valuation.
"The state assesses the value of personal and business property, and then reassesses it August 1, which is why it is difficult to estimate in July," Razzano said. "If they (the state) ever did away with personal property taxes we would lose 80 percent of our state assessed valuation. It would kill us."
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