Campbell County Assessed Value Drops By Nearly $1 Billion
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.
Clements said the decline will force changes.
"Each one of the entities in the county was asked to cut their budget from 15 to 25 percent," he said. "Three years ago, we were asked to cut our budget nine to 12 percent, so a lot of us were running pretty lean anyway. You know, we cut the cream of the crop off already."
Clements said that given the position Campbell County holds for the economy of Wyoming, people around the state should be paying attention to what this kind of change signals for the future.
He said he's hoping the figures start to plateau in the coming year and bring some stability to the county.