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Archive for Wednesday, July 17, 1991

VALUATION ESTIMATE INCREASES 2.6%

July 17, 1991

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New estimates for property valuation within Douglas County are higher than earlier projections, meaning that the proposed mill levies of Douglas County, the city of Lawrence and the Lawrence school district may be lower than earlier anticipated.

According to new figures released by county offices this morning, the county valuation is $363,775,981, a 2.6 percent increase over a previous estimate of $354,497,206. That earlier estimate had represented a 3.9 percent gain over last year's valuation.

The new estimated valuation for the city of Lawrence is $264,564,630, a 2.7 percent increase over the previous estimate of $257,569,630. The estimated valuation for the Lawrence school district is $316,066,128, a 2.5 percent increase over the earlier estimate.

THE EARLIER estimates were based on 1990 valuation figures plus the information the county gathered regarding any property improvements. The new figures are based on actual 1991 appraisals and take into account some property valuations that have been changed through the appeals process.

The new estimates could mean lower than anticipated mill levies or higher revenues for the county and city of Lawrence. A mill is $1 of property taxes for every $1,000 of assessed valuation.

Using the proposed county mill levy of 29.075, the additional $9.2 million in valuation would mean a revenue increase of $269,780 for the county's budget. Or, county commissioners could choose to cut the proposed mill levy to reflect the increased valuation.

THE LAWRENCE school board on Tuesday approved for publication a budget of $40 million. Although the district's revenues now cannot go up, the district's mill levy could go down from the projected 79.37 mills.

The city's proposed mill levy increase of 1.94 mills also could be lower with the estimated valuation.

The final valuation figure will not be set by the county until September.

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