Property values might be declining elsewhere in the nation, but not in Warren County — according to figures on which taxes will be based for the coming year.

Private property values grew by nearly 5.9 percent in the past year, a tally by Tax Assessor Richard Holland shows.

True values in Vicksburg and Warren County totaled $3,343,404,905. The final figure is up about $1 million from preliminary figures provided to supervisors two weeks ago.

“We had several new properties this year,” Tax Assessor Richard Holland said as he presented the property inventory. The roll was approved unanimously. The equalization process, where supervisors pore over the roll books for accuracy, began this morning and continues through Friday.

Holland said the bulk of the growth came from Riverwalk Casino — which accounted for $73 million of the $185.3 million in additional value over last year, Holland said — the new Kroger supermarket on Pemberton Square Boulevard and three hotels opened in the past year, Courtyard by Marriott, La Quinta Inn Suites Vicksburg and Wingate by Wyndham.

Among “major additions” that added value to the tax rolls this year were structural improvements at three of Vicksburg’s four casinos, including Rainbow, Ameristar and DiamondJacks.

Losses on agricultural lands equaled 10 percent, Holland said. About $35 million was lost from businesses that departed Ceres Research and Industrial Interplex.

Supervisors had said they hoped for solid gains in land valuations as a way to generate more revenue for the county. The other way to get more money is to raise the rates of taxation, which was done for this year but seen as unlikely for next year.

“Millage rates were going to stay where they were anyway,” Board President Richard George said later, adding he was happy to see the rolls increase due to economic development “and not what we’ve been accused of doing several times, which is re-evaluate to raise taxes.”

“We’re very fortunate to have the hotels, the casinos and the other industries,” George said.

Although having more property to tax was the big factor this year, Holland’s office assigns new values to one-fourth of all parcels each year to keep appraisals current. This year, areas in the southwestern portion of the county were re-evaluated. A higher appraisal translates to paying more taxes at the same millage rate.

Early indications on county budgeting show minimal added spending over last year’s $15.7 million, mainly small pay raises in the sheriff’s and road departments, but more allocated to pay health insurance benefits for county employees.

Exemptions and abatements alter the rolls during the fiscal year and are sure to change the value total as the year progresses. Of 11,883 homesteads in Warren County, 11,526 have homestead exemption applications ready to take effect for this year, up from 11,416 at this time last year.

Setting values involves using state-set formulas to determine totals for new construction and parcels for which usage has ceased or changed. A fourth of Warren County tracts are revalued each year, often prompting higher assigned values even if home prices are falling. Home sales countywide dropped more than 20 percent in 2008 compared to 2007, according to trends tracked by the Tax Assessor’s Office. Actual totals each year are difficult to track because of the state’s lack of an open disclosure law showing exact home prices.

Values rose just half a percent in the run-up to budget planning last summer as officials dealt with record fuel prices nationwide. Values had risen an average of 3.5 percent for five consecutive years prior to 2007, with city, county and school taxes mostly level.

A 2.79-mill hike in this year’s $15.7 million operating budget OK’d by county supervisors went to cover energy needs, particularly the sheriff’s department and road department, and raised tax bills about $28 higher for every $100,000 assessed even as city and school tax rates went unchanged.

The valuations are also used by the City of Vicksburg.

Property owners who had a sharp increase in the valuation of their property now receive postcards informing them of the change. Written protests are reviewed. Supervisors expect to hear appeals on Aug. 3.

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Contact Danny Barrett Jr. at dbarrett@vicksburgpost.com