Harrisonburg Property Assessments Decline 1% for 2013


Harrisonburg Property Assessments Decline 1% for 2013
By Scott Rogers • November 27, 2012
New assessed values have been calculated for the City of Harrisonburg. These new assessed values will determine the property taxes that each property owner will pay in 2013 --- and the values are based on sales data from the previous year. Harrisonburg has 12,531 taxable parcels, and roughly 9,000 of those parcels will see a change in their assessed values (and thus property taxes) for 2013. How does this 1% overall decline in City property values compare to what we've seen in the Harrisonburg Rockingham Association of Realtors Multiple Listing Service (HRAR MLS)? The median sales price of all properties in the City of Harrisonburg during 2011 was $164,413 (per the HRAR MLS). That figure declined to $159,500 based on sales thus far in 2012 (per the HRAR MLS). Thus, the HRAR MLS shows a 2.9% decline in residential property values between 2011 and 2012 --- so an overall 1% decline in all City property values seems to be very close to what we have seen in HRAR MLS sales data. In fact, looking closer at the City data, they break it down as follows: Single Family Homes - down 2% Townhouses - down 2.5% Condominiums - down 8% This 1% decline in assessed values may or may not be accompanied by a change in Harrisonburg's property tax rate. That rate increased from $0.59 (per $100) to $0.63 (per $100) effective July 1, 2012. City Council will discuss the property tax rate when the City develops the 2013/2014 budget. Click here to read today's full Daily News Record article on City assessments. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
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