The annual County Board of Appeal and Equalization held on June 12 began with commissioners reciting an oath administered by County Coordinator Bobbie Vickerman. County Assessor Cindy Blagsvedt reviewed the duties and rules and gave the assessment summary.
Property is valued and classified as of January 2, 2018. Sales in all areas increased over the prior year. There were 298 residential sales county wide (260 prior year), 30 bareland sales over 34.5 acres (23 prior year), and 21 commercial sales (12 prior year). There were 13 sales of rural/ag land with buildings (two of those less than 34.5 acres).
The total value of all property in the county is up 3.04% over 2017. New construction was up over 56% or over $24 million compared to over $15 million in 2017. New construction topped $1 million in four townships: Amherst, Fountain, Spring Valley, and York. The cities with over $1 million in new construction include Chatfield with nearly $4 million in new construction and Spring Valley with about $1.5 million in new construction.
Ag/rural land values, which include building sites, were up just over 1% (no change in tillable or nontillable values). Residential value was up nearly 10% and commercial value up over 4% (commercial value up primarily to building cost/new construction). Ag/rural value as a percent of total county value dropped from 73% in 2017 to 71%. Residential as a percent of total county value increased from 21% in 2017 to 23%.
County Appraiser Ron Vikre explained the use of the Crop Productivity Index (CPI) which ranks soils based on their potential for intensive crop production, the potential for one soil type to produce a yield against that of another type. Soils are rated on a numerical scale, the higher the number the higher the production potential. Ratings do not factor in precipitation differences or growing degree days.
Appeals
Appellants appeal at the local board first. Three appeals were heard this evening. All three had appeared at their local board where no change was made in their property value or no action was taken.
Each of these were on residential properties, one in Pilot Mound, one in Preston, and one in Spring Valley. County Appraiser Brian Hoff explained that an interior/exterior inspection of the residences was completed. After the inspection a recommendation on the valuation was made.
The recommendation was to reduce the value of the Pilot Mound property from $275,500 to $254,400, or $21,000. The value reduction was approved.
The recommendation to reduce the value of the Preston property from $79,500 to $74,400, or $5,100 was made. The value reduction was approved.
The recommendation to reduce the value of the Spring Valley property from $255,500 to $233,900, or $21,400 was made. The value reduction was approved.