2020 certified values stabilize; entities breathe sigh of relief

Normally there is a slight fluctuation in the final certified property values from the May preliminary values, but just like the year 2020, it was a fruitbasket turnover as almost all of the entity values went up stabilizing near last year’s values.
County, city and school officials were able to breathe a small sigh of relief as the certified values were released to the county entities this week. Six of the 14 saw a reduction in values, but it was nothing like what the preliminary values forecast back in May.
Those decreases stemmed from energy values that collectively dropped 51 percent across the county. The price for oil used for the values was $55 a barrel compared to $63.88 last year.
Montague County Chief Appraiser Kim Haralson said the fluctuations from preliminary to certifieds has a lot to do with timing. A lot of renditions from mineral-related business personal property were extended, which includes large utility companies, plus oil and gas.

Read the full story in the weekend Bowie News.

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