Archive for Thursday, July 9, 2009

Valuation declines by about $600,000

July 9, 2009

In the last year, the assessed valuation for Eudora decreased by $600,874, or about 1.5 percent, according to numbers released by Douglas County last week.

Interim city administrator Mike Wildgen said the decrease was a first for him.

“In 30 years of previous experience, I’ve never seen a decrease in valuation,” he said. “You usually get some growth.”

The county had told Eudora earlier in the year to plan for a 3 to 4 percent decrease, but that was based on preliminary figures.

The decrease has led to a proposed mill levy of 27.101 for 2010, which is up .476 from this year’s mill levy of 26.625.

Wildgen said the decrease likely could be attributed to a drop in both home sales and home values.

Just three new homes have been built in Eudora so far this year. And though the 12 new housing starts in 2008 were three more than the nine new housing starts in 2007, the numbers have fallen precipitously since 2003 when 117 new homes were built.

Eudora still is growing, though. According to numbers released July 1 by the U.S. Census Bureau, the city’s population grew by 172 people between July 2007 and July 2008.

As the city council continues to have budget study sessions, Wildgen said the council is going to need to “take a hard look at utility rates later in the year.” However, he said there were no shortfalls at this time that should lead to cutting personnel.

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