The city has reported a one percent decrease in property values between 2015 and 2016. The median value for single-family homes increased by one percent and decreased 3.4% for residential condominiums. Overall, high value properties dropped dramatically but the residential market held its value reasonably well.
Annual assessments reflect the city’s estimates as of July 2015. From June to December 31, there were many layoffs and the impact to their bottom lines was substantial. The 2017 assessment may reflect this with overall decreases of 3-5% of the market as a whole.
How Assessments Work (read more...)
If you have received your assessment, was it up or down??