Friday, January 9, 2009

Assessments Down - On Average

We say on average, because that certainly wasn't the case for our home, which actually saw its assessment rise (Hmmmmmmm).

The Sun/Flier/Times ExploreHoward blog said assessments dropped an average of 7 percent in the eastern part of the county.

It is the first assessment done in the eastern part of the county since the 2006 tax year, when residential property values went up by 74 percent and commercial values increased by 15 percent, according to state figures.

This time around, residential values dropped by 7.1 percent, although commercial rose by 16.6 percent. Any increase in value is phased in over the three years while decreases are credited immediately to owners.

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