County’s total property valuation down slightly

Boone County’s overall property valuation declined slightly for 2021-22, marking the second consecutive year for reduced valuations.
This year’s overall taxable value is down slightly more than one-half of one percent, and was much smaller than last year’s 4.24 percent reduction.
The county’s total value for 2021-22 is $2,295,383,268, or $12,368,259 less than last year’s valuation of $2,307,751,527, according to the certification from County Assessor Barb Hanson.
There were declines in agricultural land values again this year, but that decline was offset somewhat by higher values for state assessed property such as railroads and pipelines.
The county had $12,994,471 in taxable value attributable to growth during the past year — up from $9.9 million at this time last year.
Municipalities Higher
There were valuation increases this year for all of the county’s cities and villages.
The City of Albion gained $9,092,669 or 5.84 percent in valuation for the coming year. The city’s new total valuation is $164,559,746. The city had $1,387,128 in value attributable to growth.
The villages of Cedar Rapids and Petersburg also had substantial growth this year.
Complete story in the Aug. 18 Albion News/Boone Co. Tribune, and Petersburg Press.