Residential values in Weber drop, but commercial values are up

Aug 9 2010 - 11:38pm

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OGDEN -- Weber County property owners are beginning to receive their annual round of mail from the county: It's assessment time.

Property valuations go to residents who own real estate in the county.

Not only do the valuations let property owners know how the county values their property, but they also provide the basis for the taxes that fund services for residents.

Deputy Assessor John Ulibarri said both Weber School District and North Davis Sewer District, which serves parts of Weber County, will have to hold truth-in-taxation hearings.

The hearings are required by state law anytime a taxing entity increases its property tax revenue, minus any new growth.

Because state law allows the county to collect the same overall amount each year -- a revenue-neutral state, Ulibarri said -- the tax rate changes based on property valuations.

If the assessed property value goes up, tax rates go down.

The opposite also is true, which keeps overall revenue the same, with the addition of new growth during the last year. That means if a property decreases in value, property owners may not see a corresponding drop in taxes.

While commercial property went up slightly, assessments on most properties in the county went down, Ulibarri said.

Total value in the county dropped 7 percent. Vacant residential and agricultural land went down 17 percent. Single-family residences dropped 8 percent.

Ulibarri said the largest drop in assessments -- 21 percent -- was in Ogden Valley, which saw a large increase four years ago.

He said the decrease in valuations was because of the economic recession.

Each property is looked at and has the potential to be adjusted every year, and each specific property has a review of physical characteristics at least once every five years.

Weber County mailed about 92,000 valuations, although there are about 100,000 properties in the county.

Residents may appeal their valuation by Sept. 15 at the clerk/auditor's office.

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