The Daily Globe - Serving Gogebic, Iron and Ontonagon Counties

Gogebic SEV rises 1 percent

 


By RALPH ANSAMI

ransami@yourdailyglobe.com

Bessemer — For the first time in four years, the state equalized valuation for Gogebic County has increased.

The 2017 valuation of $665,029,752 accepted by the Gogebic County Board of Commissioners on Wednesday is up 1.0796 percent over the $657,927,007 of 2016.

The following are the valuations of the municipalities approved on Wednesday: Bessemer —  $31,318,292, 4.71 percent of county total: Ironwood — $108,852,130, 16.37 percent; Wakefield — $27,669,715, 4.16 percent; Bessemer Township — $46,458,910, 6.99 percent; Erwin Township — $13,897,565, 2.09 percent; Ironwood Township, $117,096,602, 17.61 percent; Marenisco Township, $78,452,923, 11.80 percent; Wakefield Township, $34,931,707, 5.25 percent; Watersmeet Township, $206,352,415, or 31.03 percent.

The high valuations in Watersmeet and Marenisco townships are mostly because of the many lakefront parcels located there.

County equalization director Tom Novascone said lakefront values are decreasing, however.

Additions to the county valuation included Xcel Energy’s new facility in the Ironwood Industrial Park and a new bottling plant in Marenisco.

Personal property taxes are based on one-half of the assessed values.

Few new homes were built.

The county board accepted the following equalized values by classes:

—Agriculture, $1,237,081; commercial, $56,283,546; industrial, $12,752,637; residential, $500,782,745; timber cut-over, $26,115,230.

 
 

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