By BARBARA GREEN
Montague County certified property values increased overall by 3.4% for 2022. Figures began arriving this week to the taxing entities who can now in earnest begin their calculations for budgets and tax rates.
Property values are based on the values as of Jan. 1, 2022 and do not reflect any activity after that point. Which means recent inflation surges, energy prices, construction costs, Russian war in Ukraine, may not play a significant role.
It appears the ongoing purchase of large and small tracts of land across the county at escalating prices is the primary driving force. The state ratio study also has a big role along with new construction and minerals. The state ratio study relates value in regard to school financing.
There are about a half-dozen subdivisions ranging from 10 to 50 lots each being developed in the county and reportedly every lot has been sold in the larger ones, most of which are located in the northeastern part of the county. Kim Haralson, chief appraiser for the Montague County Tax Appraisal District, said when the preliminary values were released in April these developments were having a big impact on values and they have included a lot of cash buyers. She anticipates another jump next year as new homes or barndominiums go up.
Read the full story in the weekend Bowie News.