In a recent government meeting, officials discussed significant changes in property valuations, particularly focusing on single-family homes. The average change in value was reported at 22.3%, with a median change slightly higher at 23.2%. This data highlights a consistent trend observed in previous meetings, where land value has emerged as the primary driver of these changes.

The analysis revealed that the average land value for single-family homes increased by an impressive 39.9%, while the average change in building value was considerably lower at 7.2%. This stark contrast underscores the growing importance of land in determining overall property value.

Additionally, the meeting provided insights into the range of changes, noting that some properties experienced a decline of 24% from their current valuation, while others saw increases as high as 634.8%. The latter case was attributed to a reassessment that included both land and building values, as the property had previously been assessed solely for land.

Officials also acknowledged that new growth scenarios are contributing to these inflated valuations, particularly affecting properties that are newly developed or significantly improved. This ongoing trend in property valuation is expected to continue influencing the local real estate market.