The council, in cooperation with the county commission and the university, shall prepare an annual financial budget covering the county's share of the cost of carrying on the extension services contemplated by sections 262.550 to 262.620 which shall be filed with the county commission on or before January first each year and the county commission shall include the budget so filed in class four of the budget of county expenditures for such year in counties budgeting county expenditures by classes, and in the budget document of all other counties, subject to the following minimum appropriations:
(1) In counties with an assessed valuation of seventy million dollars or more, ten thousand dollars;(2) In counties with an assessed valuation of twenty-five million dollars or more, but less than seventy million dollars, five thousand dollars;(3) In counties with an assessed valuation of fifteen million dollars or more, but less than twenty-five million dollars, four thousand dollars;(4) In counties with an assessed valuation of ten million dollars or more, but less than fifteen million dollars, two thousand five hundred dollars;(5) In counties with an assessed valuation of eight million dollars or more, but less than ten million dollars, one thousand five hundred dollars;(6) In counties with an assessed valuation below eight million dollars, one thousand two hundred dollars.