By JIMMY LAWTON CANTON -- St. Lawrence County’s total taxable value rose by more than $80 million from 2014 to 2015, but that’s not uncommon. St. Lawrence County Director of Real Property Darren …
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By JIMMY LAWTON
CANTON -- St. Lawrence County’s total taxable value rose by more than $80 million from 2014 to 2015, but that’s not uncommon.
St. Lawrence County Director of Real Property Darren Colton says $80 million is actually not that big of a number when you look at the county’s total taxable value of $5,615,335,351.
“It looks like a huge number, but it’s actually not out of the ordinary,” he said.
According to Colton St. Lawrence County saw a $96 million jump in the previous year and $65 million jump the year before that.
Colton pointed out that the most current number is always in flux due to court cases, revaluations and new construction, which all affect the total taxable value.
St. Lawrence County’s total taxable value is the sum of the county’s taxable property assessments. It does not include tax-exempt property values.
The total taxable value also ensures the property’s assessment is accurate. This means an equalization rate is used to calculate accurate values for under-assessed properties to ensure these properties are taxed for their actual market value.
The increase in assessed values can be confusing for taxpayers. A tax rate can decline from the previous year, but the amount a homeowner pays can actually increase because one’s property is considered to be more valuable than it was in the previous year.
That’s the case for many people paying taxes in St. Lawrence County.
In the 2016 budge county budget, county officials lowered the tax rate from $8.52 per thousand dollars of assessed property value in 2015 to $8.47.
Although the tax rate fell by about 5 cents, the total amount of taxes levied on St. Lawrence County residents rose by about $400,000 over last year from $47,4201,440 to $47,600
The decrease in the tax rate, despite an increase of taxes collected, is made possible by the $80 million increase in assessed value.