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essment was 7.6 per cent of sales price, “on a median ration,” Forberg said. “Improved Residential” property was 9.92 per cent, unimproved residential 6.68. Improved agricultural was 8.86 per cent, •and unimproved agricultural was 5.17 per cent.— The total for residential was 8 per cent, for agricultural 6.4 per cent.
Under state law, all real estate must be assessed at fair market value, and then the general practice is for counties to appraise that property, for tax purposes, at a percentage of fair market value.
FORBERG said, the reason for this is because the State Corporation Commission set up a statewide ratio of about 40 per cent for dealing with utility facilites. If counties go far below this, they might lose state matching funds. Anything above it would give the utilities an unfair break, compared with locally owned property.
Forberg then went into a discussion of land use, and the general tone of his remarks was decidedly favorable, although he was careful to claim a neutral position. Changes in the land involving rollback penalties and for designating various land use catagories — have made the land use option even more attractive, the state official said.
96.8%