Boone County Raceway Shootout 2008 Finale
August 27, 2008
With some new drivers and cars in attendance - and several regular drivers in different cars - the local summer racing season concluded Sunday, Aug. 24, with the Boone County Raceway Shoot-Out at the Albion fairgrounds facility.
On a gorgeous late-summer afternoon, drivers kicked up plenty of dust on a dry dirt track and provided exciting action in four classes of competition. Read more
Citywide garage sales set Sept. 13
August 20, 2008
Albion’s fall citywide garage sales will be held Saturday, Sept. 13.
Albion area residents who want to participate should contact Theresa Scheffler, 395-2336, by Aug. 29 to have their sale listed on the maps.
It’s a long way up there . . .
August 20, 2008
Steeple project
Osborn receives teaching award
August 20, 2008
Foundation Award
County property value tops $800 million
August 20, 2008
Valuation historyEthanol plant’s personal property boosts total, but will be short-lived
Valuation history
Boone County’s overall property valuation is growing by 16.9 percent for the 2008-09 tax year and will top $800 million for the first time.
The County Assessor’s office on Monday announced the new valuation total of $804,717,906, which represents an increase of $112,848,600 from last year’s total of $691,869,306.
But the big increase won’t last long. More than 40 percent of the total valuation increase comes in the form of personal property from the ASA Albion, LLC (VeraSun Energy) ethanol plant, which began operations last fall.
The ethanol plant valuation totals $47,944,665 this year, and more than $44,035,249 of that total is listed as personal property.
The remaining $3.9 million of ethanol plant valuation is land and other taxable property.
With TIF financing, the value of the plant’s real estate improvements (land and buildings) is diverted from property tax to repay the TIF bonds until those bonds are fully repaid (or 15 years maximum). At that point, the plant’s total real estate value is placed on the property tax rolls.
The plant’s personal property value will also depreciate rapidly in the coming years. Of the $44 million total, $43,974,804 is designated for five-year depreciation, and the remaining $60,445 is designated for seven-year depreciation. That means that nearly all of the plant’s initial personal property valuation will vanish in five years.
But for the next two to three years, the personal property is expected to have a big impact.
Schools tell opening enrollments
August 20, 2008
Opening enrollments were very similar to last year at Boone Central Public School and St. Michael’s elementary on the first day of classes, Monday, Aug. 18.
The K-12 enrollment at Boone Central was 565 students, a decline of only eight from last year’s beginning enrollment of 573.
High school enrollment (grades 9-12) was the same as last year at 238 students.
Middle school enrollment (grades 6-8) was 126, down six from last year’s opening number of 132.
Elementary (K-5) enrollment at Boone Central was 201 students, a decline of two from last year’s count.
In addition, Boone Central started with 12 students in the Pathways program and 40 in preschool.
St. Michael’s School had a starting enrollment of 98 in grades K-8, a decline of five from last year’s count of 103 students. St. Michael’s has two sessions of preschool this year with 30 students enrolled, an increase from 18 students in one session per day last year.
TeamMates program motivates youth; more mentors are needed
August 20, 2008
By Molly Young
One hour to motivate. One hour to encourage. One hour to inspire.
For one hour every week, community members make a difference in the lives of school-aged youth through the Boone Central TeamMates Mentoring Program. The program, in its ninth year at Boone Central, pairs students in grades four through 12 with volunteer mentors from the community.
“The program has great potential,” Darrel Barnes, Boone Central High School principal said.
“I’ve always been a big believer in establishing relationships with students. TeamMates provides a great opportunity to do that.” Read more
City Council favors keeping same levy
August 20, 2008
Thanks to a property valuation increase of $49.9 million, the City of Albion can use the same tax levy as last year and raise $208,438 more in revenue for 2008-09.
At a budget work session Monday night, Aug. 18, the consensus of the City Council was to do exactly that.
The same levy will raise 97 percent more revenue than last year because of a dramatic increase in the city’s valuation. The valuation increase of $49.9 million is due to personal property from the ASA Albion LLC (VeraSun Energy) ethanol plant coming on the tax rolls this year.
The valuation increase will be short-lived, because nearly all of the ethanol plant’s initial personal property value will depreciate within five years and vanish from the valuation.
More details in the Albion News Print Edition.
-
Recent Posts
- City of Albion declares snow emergency
- Auditions set for Q-125 production, ‘Hee Flaw’
- Petersburg Community Club, Village Board to meet next week
- Mabel Ragan turns 111
- Home, Farm & Garden Show preparations underway
- March 1 is deadline for irrigated land transfers
- Conditions are dry, warm in Boone County
- SourceGas distribution rates to be subject of PSC hearings
- New president takes helm of Albion Chamber of Commerce
- 4075
Advertisement
