Population: 133,971
2013 total value of residential property: $5.1 billion (-2.5%)
Median 2013 county residential appraisal: $83,300
Typical residential property overvalued by: 15%
2013 residential and commercial property appeals: 3,687
How the county stacks up: Douglas is one of three counties where residential assessments remain above market value in the AJC's analysis. The county's typical residential appraisal is 15 percent above market value, as determined by sale prices, the newspaper found.
Though are still high county appraisals appear closer to market value than last year when its typical residential appraisal was 36 percent above market value.
Chief Appraiser Benny Waldrop said the findings demonstrate Douglas’ real estate market has begun to recover.
“The market is stabilizing,” Waldrop said. “In some neighborhoods, we’re actually showing the need to increase values.”
But in many parts of the county home values are still slumping. Waldrop said banks are still dumping some properties on the market, including vacant lots. “I’ve seen them go down to $1,000 a lot,” he said.
Douglas cut residential values countywide about $130.3 million, or 2.5 percent, in 2013.
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