CAPE COUNTY'S ASSESSED VALUATION $495 MILLION

JACKSON - Cape Girardeau County's assessed valuation for 1993 will be about $495 million, an increase of approximately $18 million over last year.

Assessor Jerry Reynolds said the county will not quite reach the $500 million mark and that a final valuation won't be available until later this summer when state assessed railroad and utilities are figured in.

Personal property assessments increased $3.4 million, going from $96,770,010 to $100,170,955. Real estate assessments climbed by more than $13 million, going from $326,760,770 to $339,965,250.

Reynolds said that last year's state assessed railroad and utilities came to just over $54 million, and he anticipates it to be around that this year, possibly a little higher. One unknown factor is the impact of Union Electric selling its water system to the city of Cape Girardeau.

The water system was assessed until last year, but since the city acquired it last spring, it is no longer taxable.

This will mark the third consecutive year that the county's assessed valuation has topped the $450 million mark, which means the clock is still running on Cape County's transition toward a 1st class county.

After a county stays above the $450 million threshold for five consecutive years, it begins the transition to 1st class status.

Next Monday, the county's board of equalization will convene to consider appeals from property owners who believe their real estate is valued too high.

The first session of the board will be at 10 a.m. Monday, and sessions will be scheduled as needed until around mid-July. So far, only one appointment has been scheduled.

The board is made up of the three county commissioners, Reynolds, Auditor H. Weldon Macke, Cape Girardeau Mayor Gene Rhodes, and Jackson Mayor Paul Sander.

Appointments can be made with the board by contacting the mapping and appraisal office at 243-3123. The board meets in the county commission's chambers.