Following the most recent round of appeals, assessed valuation for Park County's properties increased $1.92 million, to $440.68 million. That's for an effective date of June 30, 2010. Two years earlier, for an effective date of June 30, 2008, the assessed value was $475.61 million, so the assessed value of all Park County properties combined dropped about 7 percent in those two years. The $440.68 million in assessed value reflected $3.47 billion in actual value for those properties. While some governmental entities will be able to make up the lower valuations by increasing their mill rates up to 5.5 percent without a vote (with the Gallagher Amendment capping the increase at 5.5 percent) special districts with a fixed mill rate that can't float upward are looking at budget cuts or asking voters for mill rate increases to tackle the problem of lower revenue coming in from property taxes. Details in this week's Flume.
