County Gains Valuation, Tax Revenue Through Audits

Johnson County Assessor Cindy Rogers
Johnson County Assessor Cindy Rogers

Johnson County has gained nearly $612 million in valuation and will receive nearly $5.5 million in back taxes and interest, due to audits on oil and gas companies performed by the County Assessor's office during 2013.

The audits were conducted on personal property reports from 2008 through 2013.

Assessor Cindy Rogers gave a brief report to the county commissioners at their meeting this week, and later discussed the issue further with Sheridan Media.

She explains how the audits came
about.

The assessor's office then takes inventory of on-site equipment and other assets and compares those numbers to what has been reported to her office.
She said the companies have been cooperative and eager to correct the
problems.

So how do these tax discrepancies happen? In these instances, she said, they are merely oversights on the part of many that have a shared responsibility for this type of reporting.

Here is a breakdown on the valuation and tax increase by year recovered by the assessor's office through the audits.

In 2008, there was an increase in valuation to the county of $3,628,000 resulting in increased tax payments to the county of $29,220.
In 2009 valuation increased $41,258,109 and increased tax payments were $319,630.
In 2010, valuation at $71,339,678 and taxes at $513,886.
In 2011, valuation at $74,709,582 and taxes at $540,390.
In 2012, valuation at $286,802,524 and taxes at $2,112,693.
In 2013, valuation at 134,002,963 and taxes at $1,010,195.
Totals were a valuation increase of $611,740,856 and increased tax payments to the county of $4,526,014.55 plus an additional 18% compounded interest payment estimated to be worth just over $1 million.

SheridanWyoming.com

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