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N.D. (NewsDakota.com) – The Jamestown City Board of Equalization met Tuesday evening to discuss an increase in values used to calculate property taxes.

A four percent increase in the value of residential property was requested by City Assessor Jamison Veil. A five percent increase in valuation of commercial property and vacant lots was also requested. The increase would apply to all properties that were not specifically addressed in 2016.

Veil reported that adjustments needed to be made due to the sales ratio for the year. The average sale price of a single family home in Jamestown increased to about $168,000 during the year compared to $160,000 in 2015. Also last year, residential properties were increased by seven percent and commercial properties by three percent.

Valuations will be submitted to the Stutsman County Commission for inclusion in its Board of Equalization meeting in July and will be later reviewed by the North Dakota Board of Equalization in August.

Taxes will be calculated after local governments establish budgets for 2018.