Increases to property valuations in Sheridan County slow

SHERIDAN (WNE) — Values of properties in Sheridan County increased at the slowest rate in the last four years in fiscal year 2025.

For fiscal year 2025, Sheridan County’s valuation sits at slightly less than $745 million, up from about $717 million in fiscal year 2024, representing an increase of approximately 3.9%.

The valuation increase rate has slowed drastically after sitting at 17.4% from fiscal year 2023 to 2024 and 21% from fiscal year 2022 to 2023.

“It’s leveled off; we’re not seeing any of the 20% (increases) like we’ve been seeing,” Sheridan County Assessor Paul Fall told The Sheridan Press.

As property values in Sheridan County continue to climb, so do its residents’ property tax bills.

Mills are equal to one-thousandth of a property’s valuation and fund school districts, community colleges, fire districts, weed and pest districts and local governments. The entities then determine the mills required to fund their budget and — as they did Monday — Sheridan County commissioners approve the levies each year.

Each entity has long requested the maximum number of mills to fund operations.

Sheridan County Commissioner Holly Jennings looked to offer property tax relief to Sheridan County’s residents by attempting to decrease the county’s number of mills levied from 12 to 11.

Dropping Sheridan County’s mill levy would save residents $9.50 for every $100,000 their home is worth. The county’s revenue would drop by about $780,000.

“I understand that it would not be a huge amount of return to people. It wouldn’t,” Jennings said. “But every little bit helps. That might be half a tank of gas or a couple of groceries but to the single parent trying to make it, that’s something.”

Jennings’ motion failed for lack of a second.

This story was published on August 6, 2024.