Montgomery County’s property valuation took a big hit from the Great Recession and foreclosure crisis but is expected to finally recover from its decline once the 2020 revaluation process is complete, according to Montgomery County Auditor Karl Keith.
The value of residential, agricultural, industrial and commercial property plunged in 2011 after hitting a peak in 2010.
Keith said the county’s $26.1 billion total property valuation is currently 7.6 percent lower than in 2010.
Those figures do not include the value of public utilities.
Keith office is in the midst of a 2020 revaluation of all property in the county.
“Given what we’ve seen so far and where we are in the revaluation that we are doing we think it is very likely the county will recover the valuation that it lost during the Great Recession,” Keith said.
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