Posted by michaela-ATL on October 08, 2003 at 13:41:46:
It depends on where you’re looking. Intown that’s definitely the case. In Grant Park the prices have probably trippled or quadrupled in the last 12 years, but the tax values have not gone up to that extent. I’m pretty happy about that. My house is assessed at 150k and the last appraisal was 405K.
If you go into the suburbs where the properties are newer the assessments are a lot closer to the real value. Because there’s still enough land to build, the values haven’t shot up that much.