Campbell County departments will soon work on their budgets for fiscal year 2024-25, which they’re being asked to cut 3% from this current fiscal year.
Campbell County departments will soon work on their budgets for fiscal year 2024-25, which they’re being asked to cut 3% from this current fiscal year.
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This year, Campbell County s assessed valuation comes to $3.4 billion the first time it s dropped below $4 billion since 2005. In 2020, the assessed valuation was $4.24 billion.
Campbell County Assessor Troy Clements said the assessed valuation is made up of a lot of different components, like minerals, and all it goes towards what the county will be able to spend in the next year.
Clements said losses in coal, oil and natural gas are to blame, with coal dropping 20 percent, oil 37 percent and gas 16 percent. Those are our bigger number ticket items that make up our assessed value. So, anytime those fluctuate like they do, it certainly makes a difference in our total, he said.