The "low-down" in Assessed valuation history in Redgranite



Aggregate Assessment                Aggregate Recommended Full Value
1937 - - $292,850                               $416,365
1947 - - $269,800                               $388,490
1957 - - $781,000                               $1,137,560
1967 - - $1,980,600                            $3,303,860
1977 - - $2,240,086                            $7,481,040
1987 - - $14,663,630                          $13,358,900 
1997 - - $23,413,800                          $24,065,600
2002 - - $34,645,400                          $35,718,200
2004 - - $36,276,400                          $44,432,600


It becomes Apparent the increase of $11,600,000 in the short 7 year period from 1997-2004, has been the most productive period in Redgranite's history for increase in valuation. That is something the residents of our small Village are very proud of, and are anxious to have the pace that has been set by the aggressive members of the Village Board and the Economic Development Committee be continued.

TID VALUE INCREMENTS

                    TID #1  1997      Base Value      $1,459,000  

                                             Current Value   $12,204,100

                                             Increment *     $10,745,100

                    TID #2  1997      Base Value     $46,200

                                             Current Value   $142,200

                                              Increment *    $96,200

*Increment is the change in assessed valuation from the time the TIF (Tax Inceremental Finance) District was formed in late 1997. Without the Tax Increment District, the Village's assessed valuation would be 11 million dollars less than what it is today. Eleven (11) million dollars in tax base brings in approximately $286,000 per year in revenues to the TIF District. As a result of the leadership of the former Village President, the entire Village Board and the Economic Development Committee, Redgranite has become a great place for real estate development to occur.

Information regarding development in our Village can be obtained by contacting the Economic Development Committee Chairman or Village Clerk.

Valuation/History & Progress