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Letter: Mathews property owners need to speak up

Editor, Gazette-Journal:

I hope that I am one of thousands of Mathews homeowners who is incensed by the ludicrous 2010 property assessments. At an increased total assessment of 91 percent, with a nearly doubled land value assessment, the county assessors have valued my property higher than for which it can be sold. Is this an honest mistake, or are we playing yet another revenue shell game?

Looking at the housing market during 2000-2005, real estate market values skyrocketed within a range of 25 to 50 percent, depending on location. Home buyers were paying, in some instances, more than the asking price, and bidding wars were frequent for highly desirable properties. The years 2006-2007 marked the bursting of the housing bubble and the commencement of a severe economic downturn.

From 2007 to the present, housing market prices fell and have remained flat with stagnant market activity. The effective decrease in values ranges between 25 to 40 percent; again, depending on location. ...

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