April 24, 2013

Equalization board approves value increases

By Michael Johnson, Editor

Property values are on the rise in the area. Several from the community heard how those values were calculated at the tax equalization meeting in Underwood on Thursday. City assessor Ryan Oberg and county director of tax equalization Todd Schreiner informed the board members and residents that residential values were rising by 10 percent across the board. Commercial properties were rising on a case-by-case basis in order to bring the values closer to the true and full value. A commercial assessment has not been done in Underwood since 1982. Schreiner started the meeting by showing an informational slide. It provided background on his education and duties. He explained that his job is to handle assessing values, not taxes. The process of determining values includes determining the replacement value of every building and applying depreciation to those buildings.

The Weather Network