County’s total property valuations show rare decline

Boone County’s overall property valuation has declined for the first time in at least 15 years.
The county’s total taxable value for 2020-21 is $2,307,751,527, according to last week’s certification from County Assessor Barb Hanson.
That’s a decline of more than $102 million or 4.24 percent from last year’s total valuation of $2,409,978,807.
Hanson said the valuation decline in agricultural land reflects new statewide rules that take production and non-agricultural influences on value into account
“This actually resulted in some good producing land being valued lower, and some lesser ground being valued higher,” she said. In general, dry cropland had higher valuations this year due to the past three years of sales comparisons.
The county had $9,940,439 in taxable value attributable to growth during the past year.
Three of the county’s municipalities — Albion, Petersburg and St. Edward — showed valuation growth as compared to last year.