County land, property values hit $469M
A $4 million hike in Scott County’s assessed valuation played a role in the ability of local units of government to cut tax levies for the upcoming fiscal year.
But while assessed valuation is the formula that determines the tax rate for personal property, homes and real estate, it doesn’t offer a clear picture of what’s happening with respect to the real value of property in the county.
According to the county appraiser’s office the total value of all land and buildings in Scott County presently stands at $469 million - an increase of $21.5 million from the previous year.
Of that, residential housing accounts for $151.9 million. That is followed by agricultural land at $99.7 million.
New construction accounts for $2.96 million of the boost in overall valuation. Of that, residential construction leads the way at $1.7 million.
That includes five homes that were completed prior to January 1 and included on the tax rolls for this year. Another 20 construction projects include anything from small outbuildings and garden sheds to garages and carports.
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