Property Tax and Value Rise - KFYRTV.COM - Bismarck, ND - News, Weather, Sports

Property Tax and Value Rise

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The cost of living in Williston has continued to go up since the oil boom. The question is how is that effecting property taxes.

The city had an outside vanguard company from Iowa came in during the summer to mass appraise all of the commercial properties. The company figured out that the properties' values have increased. With that, property owners received a 12 percent reduction relief on their taxes and that will be available in 2014 as well.

The Tax Director of Equalization, Denell Kallemeyn, says the basic assumption is that the property taxes are going up just like cost living.

"As of 2013, the mills dropped so the property values actually dropped," Kallemeyn says. "Taxes dropped not your property values. Your property values increased but your taxes dropped."

Kallemeyn thinks the housing market is going to stabilize a little bit. She is predicting there will be an 11 to 14 percent increase in the city, but her department are still working on the final numbers.

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