Apr 30, 2014 at 8:49 am
The grand forks assessing office has mailed well over 1,600 statements to property owners who face a bump in valuation of ten-percent or more. Grand forks assessor john herz says that’s about double previous years. Overall property values in the city are expected to climb again in 2014. A tight housing market is helping to prop up prices in some neighborhoods. herz says his office is still crunching the numbers but an eleven-percent increase in residential and commercial property in is not out of the question.
herz says the value is largely based on 2013 appraisals…new property…and home sales with a cut-off date of February first. He says if sales this spring and summer were put into the equation the figure would be even higher. property sold after February first will be factored into the 2015 report.
knox / doug barrett