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<br />City of Centerville
<br />
<br />Market Values
<br />
<br />After thorough studies of the sales in the market place are conducted, we establish the
<br />assessed value of all real property. During the 2012 study period, we recorded 72 sales,
<br />of which we considered 32 to be "arms-length" sales. There were 23 bank/foreclosure
<br />sales in Centerville during 2012.
<br />In accordance with the results of these sales studies, downward adjustments were made to
<br />all areas of the city with certain styles and grades of homes having larger decreases than
<br />others. This will more properly reflect current market trends.
<br />According to the Minneapolis Area Association of Realtors, the average home sales
<br />price in Centerville rose 16.4% between 2011 and 2012. This is a dramatic
<br />improvement from the 4.3% increase observed last year. This is a direct result of the
<br />reduced impact of bank owned property in this area, as well as the demand for homes.
<br />The 2013 assessment that is up for your review has a total unaudited assessed value of
<br />$284,356,300. It reflects an approximate valuation decrease of 2.1% compared to the
<br />2012 assessment of 290,509,100. This is an improvement from the 6% decline
<br />observed last year.
<br />
<br />
<br />Historical Changes in Taxable Market Value
<br />2000-2009
<br />(Total does not include utility, exempt or forfeit)
<br />Commercial &
<br />YearApartmentResidentialTotal% Chg
<br />Industrial
<br />2009
<br />$751,600$323,922,600$23,429,800$348,104,000-10.3%
<br />2008
<br />$776,500$360,539,000$26,724,100$388,039,600
<br />0.9%
<br />2007
<br />$762,400$350,726,300$31,861,800$383,350,5005.4%
<br />2006
<br />$748,100$338,067,900$25,063,100$363,879,100
<br />13.1%
<br />2005
<br />$689,500$300,078,100$20,888,200$321,655,800
<br />11.8%
<br />2004
<br />$638,900$268,075,500$19,047,800$287,762,20014.1%
<br />2003
<br />$578,200$232,902,300$16,972,700$250,453,200
<br />13.4%
<br />2002
<br />$532,400$206,173,700$14,180,800$220,886,90026.5%
<br />2001
<br />$388,800$163,024,700$11,198,300$174,611,800
<br />14.2%
<br />2000
<br />$378,500$141,621,500$10,949,500$152,949,5008.0%
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