Official Newspaper of Eddy County since 1883
Official Newspaper of Eddy County since 1883
At the Eddy County commission meeting on Tuesday, June 6, Director of Tax Equalization Kristy O'Connor reviewed the county's 2023 equalization report with commissioners.
At the time of Tuesday's meeting, O'Connor had already held tax equalization meetings with the City of Sheyenne, City of New Rockford and each township in Eddy County, all of which approved their tax equalization report.
In her valuation recap, O'Connor stated, "Commercial property continued to be a hot commodity in 2022, rural and urban, and I see it as a changing market going forward. Vacant residential lots could be on the rise as well."
The report states that 25 residential properties were sold in the City of New Rockford in 2022, along with eight commercial properties and three vacant lots.
In the City of Sheyenne, there were three residential sales, one commercial sale and one vacant lot sale.
Agricultural land sales for 2022, meanwhile, amounted to 8,702.48 acres combined. The average price per acre was $1,882, continuing a steady increase in the average price per acre in Eddy County since 2020.
O'Connor also presented the agricultural land valuation for 2023:
All agricultural land in Eddy County for 2023 is valued at $628.41 per acre, which is up from $598.66 in 2022.
Non-cropland in Eddy County for 2023 is valued at $191.27 per acre, which is up from $187.96 in 2022.
Cropland in Eddy County for 2023 is valued at $835.61 per acre, which is up from $794.68 in 2022.
The report states, "Eddy County's agricultural average price per acre is certified by the State Tax Department each year. Eddy County Soils Committee approved a 5% increase in cropland and a 2% increase in non-cropland valuation for 2023."
The 5 percent increase is the largest jump since at least 2018, and continues an overall upward trend in ag-land valuation in recent years.
All totaled, the net value of all agricultural land in Eddy County for 2023 – after exemptions are applied – is $217,742,220.
Meanwhile, the 2023 residential property valuation in Eddy County is $59,066,760 and the total commercial property valuation is $33,954,550.
With all that information in hand, O'Connor could then predict the net value of all property in the county subject to property taxation.
"This amount is determined by applying an assessment ratio of 50% to the appraised value of all taxable property, then a factor of 9% is applied to residential and 10% to all other property classes," states the report.
"The taxable valuation multiplied by the mill levy will determine the total revenue to be received from property taxes."
O'Connor's report shows the projected taxable valuation for 2023 is $16,751,366, which would be a 5.11 percent increase from 2022.
O'Connor noted, however, that the projection will vary somewhat depending on utilities, exemptions not previously filed, state-offered credits and other factors.
Also discussed at the county commission meeting on Tuesday was a potentially expensive complication with the plan to build new bathrooms at the Warsing Dam.
Commissioner Glenda Collier said the holding tank for the north bathrooms is too close to the waterline, and would need to move approximately 20 feet.
That's according to the head of the environmental department at the Lake Region District Health Unit, who had to inspect the bathrooms ahead of the planned construction.
No official decisions were made regarding the matter, but work will continue on the south bathroom, which is far enough away from the water. Discussions on what to do with the other bathroom will continue.
Also, commissioners officially hired Interstate Engineering for the removal of the Hanson Bridge on 6th Street North, and the removal and replacement of the bridge on 64th Ave Northeast over the James River – known locally as Klumph Bridge.
The next county commission meeting is scheduled for Wednesday, July 5 at 8:30 a.m. in the Eddy County Courthouse.
