Campbell County assessed valuation drops 7% in 2024 to $5.3 billion

GILLETTE (WNE) — Campbell County’s assessed valuation this year dropped by $381 million but still remains at more than $5 billion.

Campbell County Assessor Troy Clements said the county’s assessed valuation — its taxable value — for 2024 is $5.32 billion, which is a drop of about $381 million from than 2023, when it was $5.7 billion.

The value of coal, oil and gas combined was $4.2 billion, or 79.6% of the county’s total. Coal’s valuation stayed relatively the same. While there was a slight decrease in production, the price went up slightly.

Oil and gas were a different story, however. Oil production increased by 3 million barrels, to 22.7 million, but the price per barrel dropped 20%. And gas production saw a 33% increase in production, but the price of gas dropped 55%, from $6.23 to $2.76, leading to a 41% overall decrease in valuation.

The railroads saw a 20% drop because of an increase in idle trains, Clements said, while real and personal property was up slightly because of new construction and the state of the housing market.

In line with this drop in assessed valuation, the Campbell County Commissioners approved a $145 million budget for fiscal year 2024-2025, which is a 4.2% decrease from last year.

This story was published on June 19, 2024.