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Show Bingham's Valuation Pared Nearly Quarter Million With Bingham Canyon's assessed assess-ed valuation now set at $2,015,-614, $2,015,-614, which is $242,166 less than the $2,257,780 set for tax purposes in 1!39, the city may anticipate $32ti!) less in tax revenue on which to operate if the city levy of 13.5 mills is fixed again this year, Mayor Ed Johnson points out. The assessed valuation figure is arrived at by the following units: state industrial utilities and mining valuation, $1,191,305, ' a decrease of $115,355 from 1939; real estate valuation $266,495; valuation improvements, $381,-PiC $381,-PiC which is a reduction of $201,-201 $201,-201 from iyui, -id $175,850, per- i sonal property valuation The total to-tal valuation figure, $2,015,614, is subject to further possible change , by the county or state boards of , equalization, Mayor Johnson ! states. The $3269 reduction in city tax revenue, presuming the 13.5 mill levy remains unchanged for the year, might not be of as serious concern as it appears on first ' glance, Mayor Johnson says, if total revenues would compare with 1939 revenue, which was $3,249.21 over the budget estimate. esti-mate. Revenue was estimated at $47,-440.48 $47,-440.48 for 1939, but actual receipts re-ceipts of the city were $50,689.69, , an increase largely due to $2,-034.15 $2,-034.15 received in delinquent tax collections, which was a 95.8 per cent collection of the levy. That this source of city income is variable and cannot be estimated estima-ted with any degree of accuracy is shown by comparison of collections collec-tions the past two years. In 1938 the city treasury received $607.33 in tax redemptions as compared to $2,034.15 collection of 1939 from the same source. Taxpayers of Bingham Canyon may find the reduction in valuation valua-tion improvements by the county as the figure now stands of interest. in-terest. The $583,165 figure first announced was cut $54,495 by individual in-dividual reductions and then, following fol-lowing protest of taxpayers, was further altered by two 15 per Cent cuts, to $381,964.08. |