Property values grow 72 percent over a three year period
Jul 09, 2008 | 1562 views | 0 0 comments | 32 32 recommendations | email to a friend | print
Property values continue their multi-year growth in San Juan County, with an increase of nearly 15 percent in the most recent year. The current value of properties in San Juan County exceeds $790 million, representing a $101 million increase in one year.

The largest increase is in oil and gas properties, totaling nearly $80 million. Traditionally, centrally-assessed properties, such as oil and gas, represent the bulk of the value. These properties increased by $82 million this year. In addition, locally-assessed properties, including homes, increased by $30 million.

The one-year growth in property values is 11 percent in Blanding, from $60 to $67 million; nine percent in Monticello, from $52 to $56 million; and eleven percent in Bluff, from $16 to $18 million.

Property values experienced large swings in recent decades, with a value exceeding $1 billion in the mid-1980s before a decade-long decline. Property values bottomed out at $377 million in 1996.

The most recent increase began in earnest in 2005. In the three years since 2005, the assessed value of San Juan County properties has grown more than 72 percent, from $458 million to $790 million.

During the uranium and oil boom in the 1950s, the assessed value of properties in San Juan County was exceeded only by Salt Lake County in Utah. Currently, San Juan County is in the lower third of assessed properties among Utah counties.
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