Dallas County property values expected to drop next year
Monday, September 8, 2008 20:45Posted in category Real Estate Market, Uncategorized
Due to the rise in Dallas home foreclosures, the Dallas Appraisal District property values are expected to decrease.
The foreclosure rate along with the expected slight increase in new construction, the final result would be a zero overall increase in property values, Brown said. This is good news for homeowners, who have been up in arms in recent years over higher appraisals.
The bad news is, most cities, counties and school districts rely on property tax revenue for their budgets. If that dries up, we can expect more tax hikes next year.
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