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Monday, December 31, 2007
Most Douglas County residential property values are projected to increase by less than 1 percent in 2008, according to the county appraiser’s office.
Change of value notices won’t be mailed out by the county until Feb. 29, but the current projection is based on a review of 67 percent of residential properties, County Appraiser Marion Johnson said.
It is the lowest percentage increase Johnson said he has seen in his 16 years in Douglas County. The values reflect the current real estate market, he said.
“If you look at the national market, this market is no different,” Johnson said.
So far 25 percent of the residential properties are showing a decrease in value, 40 percent are showing no increase and 30 percent are showing a zero to 1 percent increase, Johnson said.
Commercial properties are showing a 2 percent to 4 percent increase.
In 2007, residential property values averaged about 2 percent increases. Previous years averaged 4 percent to 6 percent increases, Johnson said.
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