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Show County valuation passes $500 million by Christopher Smart After weeks of delays, property valuation figures have been tabulated tabulat-ed for Summit County, Park City and the Park City School District. In the coming days mill levies will be set officially for the 1984-85 fiscal budgets. For several weeks local taxing entities have been waiting to set mill levies. The holdup: Property valuation valua-tion figures were stuck in a computer in Coalville. According to Summit County Clerk Reed Pace, the county's total valuation this year is $531,042,142. Last year it was about $300 million. By school district, that total breaks down as follows: Park City School District $181,478,089; South Summit $290,398,766; and North Summit-$59,165,293. The valuation for the Park City School District was very close to what the district had estimated when it adopted a budget and a mill levy. "If these figures are accurate we will not have to reopen our budget," said Bill Sampson, the district's business administrator. The school district has set its levy at 37.64 mills. But that levy has not yet been approved by the Utah State Tax Commission. On the other hand; the Park City Municipal Corporation did not know as of press time what its exact mill levy would be for the upcoming fiscal year. "We'd just be guessing," said Financial Director Donn Kaynor. He said that the municipality had budgeted to bring in $1,330,000 from property taxes during the year. The mill levy may go down from last year's 17.6, he said, but it's a complicated matter determining the exact levy that when assessed against local properties will bring in precisely the budgeted amount. According to Pace, property inside the city limits is valued for taxing purposes at $130,695,012. Another factor complicating the setting of mill levies here is the Park City Redevelopment Agency, which is entitled to a share of the tax revenues collected in Park City's Old Town area. Pace said the RDA valuation this year is about $29.8 million. However, because of a recent legal settlement, Pace explained, ex-plained, the RDA can only collect revenues from property valued at $13.8 million. Properties are assessed by the county if they are designated residential or general commercial. Properties such as railroads, utilities, mines and oil wells are assessed by the state. Of Summit County's total, $224 million was assessed locally while $306 million is state assessed property. In the Park City School District, $174 million is locally assessed property, Pace said, leaving only $7 million state assessed property. In the South Summit School District, by contrast, $256 million is state assessed and $33 million is locally assessed property. Pace said that is lprgely due to oil wells in the South Summit area. The Summit County mill levy is also undecided, Pace said. Using two different forms from the State Tax Commission, Pace said he came up with two different levies. Until that matter is straightened out, no levy will be forthcoming for the county, he said. In either event the county level will be approximately 6 mills. j it Pfe If "jllitf IK- "y- - -" , -1 ,(; ; ' -f l v . phoiohvKuix.iMi.n shayne Carter at the anvil |