Industrial SEV Rises A Bit

July 23, 2007
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GRAND RAPIDS — The state equalized value of industrial property in the county rose by 3.57 percent, or $68 million, to $1.96 billion for 2007.

Still, that growth figure was slightly below the inflation rate recorded in the county for 2006. Kent County Equalization Director David Jager said the rate was 3.7 percent last year.

Of the 27 jurisdictions that reported industrial SEVs, 14 had increases above the inflation rate and five townships had double-digit hikes: Caledonia (37.39 percent), Gaines (25.71 percent), Lowell (20.76 percent), Solon (20.10 percent) and Vergennes (12.37 percent).

Grand Rapids was one of two jurisdictions that saw its industrial SEV decrease over the year. The drop (-2.82 percent) was due to rezoning changes that turned industrial properties into other uses. The city of Lowell also had a decline (-3.86 percent).

The city of Kentwood had the largest industrial SEV at $361.7 million. Wyoming ($329.4 million), Grand Rapids ($306 million), Walker ($210.7 million) and Cascade Township ($183.5 million) rounded out the top five.

Here are the SEVs for each jurisdiction for the past two years, the percent change for 2006 to 2007, and the overall percentage of the total 2007 industrial SEV in the county.

Jurisdiction

2006 SEV

2007 SEV

Percent Change

Percent of Total 2007 SEV

Ada 

$125,030,900

$129,171,850

+3.31%

6.57%

Algoma  

$3,955,900

$4,038,900

+2.05%

0.20%

Alpine  

$22,659,900

$24,166,100

+6.24%

1.23%

Bowne  

$2,908,100

$3,118,900

+6.73%

0.15%

Byron  

$123,891,200

$130,308,200

+5.18%

6.63%

Caledonia  

$16,322,700

$22,426,700

+37.39%

1.14%

Cannon  

$739,600

$739,900

N/C

0.03%

Cascade  

$176,206,600

$183,593,700

 +4.19%

 9.34%

Cedar Springs 

$3,386,400

 $3,550,500

 +4.61%

 0.18%

Courtland  

$632,600

 $632,600

 N/C

  0.03%

Gaines  

$62,977,300

 $79,170,800

 +25.71%

 4.03%

Grand Rapids 

$314,970,000

 $306,079,600

 -2.82%

  15.58%

GR Township 

$236,700

 $253,700

 +7.18%

 0.01%

Grandville  

$60,380,100

 $62,030,700

 +2.73%

 3.15%

Kentwood  

$352,648,900

 $361,782,200

 +2.59%

 18.41%

Lowell  

$12,742,100

 $12,250,100

 -3.86%

  0.62%

Lowell Twp. 

$2,702,900

 $3,263,400

 +20.76%

 0.16%

Nelson  

$0

  $176,500

 N/A

  0.008%

Plainfield  

$47,080,100

 $50,862,400

 +8.03%

 2.58%

Rockford  

$18,497,400

 $18,542,200

 +0.24%

 0.94%

Solon  

$2,392,700

 $2,873,000

 +20.10%

 0.14%

Sparta  

$15,053,100

 $15,507,800

 +3.01%

 0.78%

Spencer  

$318,500

 $331,100

 +3.95%

 0.01%

Tyrone  

$2,648,700

 $2,674,100

 +0.98%

 0.13%

Vergennes  

$5,739,400

 $6,449,800

 +12.37%

 0.32%

Walker  

$205,048,900

 $210,792,900

 +2.80%

 10.73%

Wyoming  

$317,032,900

 $329,415,000

 +3.90%

 16.77%

Total  

$1,896,374,400

 $1,964,202,450

 +3.57%

 100.0%

Note: The city of East Grand Rapids and Grattan and Oakfield townships did not report state equalized value for industrial property for the 2006 and 2007 tax years.
N/C: no change. N/A: not applicable.
Source: Kent County Equalization Report, 2006 & 2007

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