Rising property values, especially those on the county’s oil and gas tax rolls, are likely to produce more revenue for county taxing jurisdictions this year, making the upcoming budget discussions a bit less stressful for the county, school and hospital district.
Chief Appraiser Janie Mitchell told the Success this week that county wide property values could increase by as much as $50 million this year, with most of the increase coming on the appraisal district’s “mineral roll.”
$3 million of the increase is due to construction at the YFZ Ranch, where buildings completed in 2006 were placed on the tax roll for 2007. Several ongoing construction projects at the YFZ won’t be added to the tax rolls until next year.
The City of Eldorado’s tax base is increasing, too. Mitchell explained that taxable values within the city are up by approximately $1.4 million, to a total of approximately $27 million.