Think Your Valuation Went Up? Courthouse Value Jumps To $32 Million
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The wall inside the Commissioners Courtroom inside the Fayette County Courthouse suffered water damage from the recent heavy rains. So much water leaked inside the room that it warped several of the plaques hanging on the wall. Commissioners learned last week that the insured value for the Courthouse jumped from just over $8 million to more than $32 million. Photo by MaKenzie Givan
The Fayette County Courthouse cost $99,407.04 to build in 1891. It would cost more than $32 million to replace it today, according to an estimate from the County’s property insurance provider.
The Texas Association of Counties (TAC) provides property insurance coverage for the County. County Auditor Cindy Havelka presented the annual insurance renewal at the Commissioners Court meeting last Thursday, May 25.
“In 2022 we were due to have our property re-evaluated,” Havelka said. “They came in and looked at it and submitted a proposal of the re-evaluation and what the property insurance is going to cover. As you can tell, it has significantly gone up.”
The insured value for all the county’s buildings went from just under $30.5 million in 2022 to $66,319,190 this year. The County’s cost for the insurance contribution would have doubled, from $57,435 in 2022 to $114,870 this year, Havelka said. TAC offered the County a contribution adjustment of $38,290 due to the sudden increase, bringing the adjusted cost for this year to $76,580.
“The significant increase is in the Courthouse and the Old Jail because they are historical buildings,” Havelka said. “With historical buildings, you have to have (enough insurance) to put it back according to historical standards.”
The Courthouse jumped in value from a little over $8 million to $32,272,000. The value of the Old Jail went from $1,719,000 to $6,116,200.
“The reason why, they said, was because of the materials you would have to locate and the workmanship – trying to find someone to put it back the way it is now,” Havelka said.
“So if (the Courthouse) burned down, we would have to build it back exactly the way it is now?” asked Pct. 4 Commissioner Drew Brossmann.
“Yes, we did ask that,” Havelka said.
“I asked the question,” said Pct. 1 Commissioner Jason Mc-Broom. “Honestly, it’s a beautiful building, but it’s the most inefficient building we have.”
“What are the odds of being able to build it back to the way it is now?” Brossmann asked.
Havelka said the County would be required to rebuild the Courthouse as it stands today due to its historical designation through the State Historical Commission.
“Can we undo that?” Brossmann asked. No one knew the answer to that question.
McBroom said that despite the increases, the valuations on some of the properties would not cover construction costs today.
“Those don’t dollar-out to today’s construction costs,” McBroom said. “TheAg Building dollared out to $134 per square foot. You’re not going to get that built today for that price. We’re going to ask them to re-evaluate the appraisals on some of those bigger buildings so that we are covered if something happens.”
Commissioners unanimously approved payment of the property insurance.