Most Forsyth County property owners will see no change or a reduction in value for 2012.
Tax Assessor Mary Kirkpatrick presented the board of assessors on Thursday with a CD of nearly 80,000 assessment notices, which are scheduled to be sent out in early May.
“We continue to go down on value,” Kirkpatrick said. “We ended up actually, with all the reductions we did, the digest is only decreased .62 percent. It hasn’t even gone down a whole percent.”
Rezonings, new construction and an increase in building permits likely helped minimize the loss from the previous year, she said.
The digest, however, is not final until all the exemption requests have been reviewed and the appeals considered, she said.
Staff used nearly 3,600 valid sales to analyze property values, said Kirkpatrick, adding that the number of foreclosures and short sales have complicated the process.
Last year, the office focused on subdivisions and just updated the ones that needed adjusting this year, she said.
“We didn’t have quite enough rural sales to make adjustments [last year], but we did this year,” she said. “That is going to be a good help in that area.”
Subdivisions have stayed fairly constant in value, but commercial has been “a mixed bag,” Kirkpatrick said.
“I think we’ve done as good as we can possibly do with the sales that are out there right now,” she said. “I’m just looking forward to the day all these banks dump these houses out and we get back to normal market value.”