County’s overall value marks five percent gain

Whitman County is worth just shy of $2.8 billion, according to the 2011 valuation by Assessor Joe Reynolds. Reynolds gave county commissioners the valuation total last week.

The 2011 total value of real and personal property is $2,769,339,855, which is up five percent from the county’s total 2010 valuation of $2,628,585,260.

The figure was finalized after the county’s board of equalization session. The board hears appeals of the assessed valuations, but no appeals were submitted to the board this year.

Reynolds said the biggest gain in the value increase came from Pullman’s new WalMart SuperCenter which is set to open next month.

This year, the county’s general operating fund is budgeted to receive $4,149,586 from property taxes on the $2.76 billion valuation.

A one percent revenue increase, the limit allowed under state law without voter approval, for 2011 would increase that figure to $4,223,691.

The county has another one percent potential increase in “banked” capacity which derives from prior years when the county opted not to make the one percent hike in tax revenue.

Using that capacity now would take a special resolution by commissioners. Doing so would increase taxes two percent and bring the 2011 general fund revenue up to $4,261,292.

Commissioners Greg Partch and Michael Largent said they would wait until they have a preliminary estimate on next year’s spending plan before deciding on any tax revenue increase.

“I think a lot of it will depend on what we hear from taxpayers – and I do want to hear from taxpayers – on what they feel about the services that are provided and on what services they want provided,” said Largent.

Commissioner Pat O’Neill was visiting in Texas this week.

Even with a one percent increase in property tax revenue, the 2011 levy rate for the general fund would drop one cent from $1.49 per $1,000 assessed value to $1.48 because of the higher valuation. A two percent raise would hike the levy rate to $1.50.

If the commissioners decide to keep the same revenue, the levy will drop to $1.46.