Keeping up with the trend of recent years, Yellow Medicine County is going to see another significant increase to agricultural property values for 2013.
YMC Assessor Connie Erickson presented commissioners with an overview of the 2013 property assessment for agricultural, residential and commercial properties throughout the county during Tuesday’s board meeting.
Assessed values are dictated by the sale price of nearby and like properties, relative to existing property valuations.
According to Erickson, the number of recorded ag-land sales throughout Yellow Medicine between October 2011 and September 2012 topped out at 21, which is about half the number of sales that the county sees in a typical year. Nevertheless, the sales that did occur were significantly higher in years past resulting in an overall ag-land valuation increase of 36 percent.
Of the individual townships, Lisbon saw highest jump in agricultural property values with four ag-land sales, ranging from $6,040 to $7,474 per acre, resulting in a 52 percent increase. On the low end of the spectrum were the townships of Wood Lake, Posen, Echo and Sioux Agency in the southeastern end of the county where a total of four ag-land sales, ranging from $5,961 to $8,133, created a 28 percent increase to property values.
Residential and commercial property value changes throughout the county were far less severe. Residentially, only three communities will see an increase in property valuation, while commercially there were no sales reported in any of county’s cities and thus no valuation changes.
Of all of the county’s nine cities, Clarkfield, with six reported residential sales, will see the highest increase in residential valuation with an overall jump of 10.87 percent. Echo, which reported two sales, will see a 5.96 percent increase. And, Porter, which also had two sales will see a rise in overall residential values of 3.25 percent.
Meanwhile, the county’s two largest cities of Granite Falls and Canby had 20 and 11 residential sales, respectively, but will see no change in overall valuations.