COUNTY VALUATION IS LATEST STRONG INDICATOR OF STRONG ECONOMY

Reports last week that Cape Girardeau County's assessed valuation had a healthy increase can be taken as a sign of the times. And most business and economy watchers would take it as a good sign.

Assessed valuation is an important figure, because it is the amount on which taxing units base their income. The $547.9 million assessed valuation is up substantially from the $511.4 million a year ago. There is some fine-tuning yet to be done to adjust for changes that lower assessments for apartment buildings, nursing homes and mobile home parks. But when all the changes are made, overall tax revenue will go up approximately $1.5 million. This money will be shared by school district (which will receive the lion's share), cities, fire districts, road districts and other taxing units.

Although most of the increase is attributed to new construction and other real estate improvements, there also has been a healthy increase in automobile sales during the past year. Folks who say Cape Girardeau -- city and county -- is stagnant apparently are overlooking the dozens of new commercial buildings and the new-home construction pace, both of which are near boom proportions.

The new assessed valuation figures also keep Cape Girardeau County on track to becoming a first-class county by 1997. The threshold is $450 million in assessed valuation for a period of five years. Cape Girardeau County first reached that mark in late 1991 and has shown growth every year since.

Taken with other key indicators -- building permits, employment rates, sales-tax collections and so on -- the assessed valuation figures point to a strong and healthy economy for this area. And the trend, officials say, is likely to continue for a while.