Property values up from 2001

Published 12:00 am Saturday, June 15, 2002

The total value of properties in Freeborn County evaluated by the Assessor’s Office is $1,788,751,600, increasing by 3.5 percent from last year.

The county board will review the report in a meeting starting at 8:30 a.m. Monday, June 17, in order to confirm the figure that will be the basis of 2003 property taxes.

The appraisal result shows the total market value of residential property has increased 8.48 percent, added $12,296,400 in new construction.

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On the other hand, industrial properties dropped by 2.68 percent, which reflects a $1,019,400 reduction on Farmland properties due to fire damage. Speltz grain elevator in Glenville, which was damaged by a tornado, has reduced its value by $34,600. And the Hollandale Marketing Association, which lost a potato storage facility due to fire, has reduced by $64,000.

Property owners can present opinions on its appraised value or classification at the meeting.

Following the meeting, the board and other county officials have a workshop to discuss the 1954 courthouse annex issue.

A construction management company, Adolphson & Peterson, will report on a cost and space analysis of the building. The board will decide whether to tear down the building or keep it on Tuesday.