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Report: Havre de Grace Property Values in Flux

One segment of Havre de Grace real estate saw an uptick while another experienced a decrease in assessed value.

By the state of Maryland's latest estimation, commercial real estate in Havre de Grace increased in value while residential properties saw a decrease, reported Explore Harford.

Every three years, the state assesses properties in chunks, and Havre de Grace residences, which hadn't been assessed since 2009, got new reports as of Jan. 1, 2013.

Havre de Grace home values decreased on average 7 percent, Explore Harford said. That meant they were in line with statewide trends.

This year, 77 percent of the residential properties that were assessed decreased in value by an average of 7 percent, according to the Maryland State Department of Assessments and Taxation.

On the other hand, commercial properties in Havre de Grace saw an increase in value.

Statewide, commercial property values increased in more than half of Maryland's jurisdictions, by an average of 11 percent, the State Department of Assessments and Taxation reported.

Commercial property values in Havre de Grace went up by approximately 6 percent, according to Explore Harford.

Property taxes will not be finalized until July, the state said, based in part on local governments' budgets and tax rates as well as the new assessments.

Until Feb. 11, property owners can request an appeal to their assessments if they believe the data does not reflect the market value.

Brian January 07, 2013 at 01:26 PM
I'm not sure where these statistics came from but I have realized a 16.5% decrease in property value in the past four years. I was aware I was buying my home on the tail end of the housing bubble but, 16.5% is a huge loss for me and my family. At this rate, it will take me 20 years just to pay off the balance prior to building any equity in my home. Our government, both federal and local, have let us down and put our nation and our families at risk for financial ruin. The banks have been bailed out at our expense. Not only have we lost much of the equity in our largest investments, our homes, but our dollar is not worth nearly what it once was and it is only going to get worse. We haven't seen the effect of inflation yet and that is going to be the tipping point for many.

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