Property values in Minot have dropped approximately eight percent from 2016.
The Minot City Assessor Kevin Ternes told me that there was a peak and in the last few years many cities in Western North Dakota have leveled off.
Then from last year to this year, the assessment showed that values had reduced.
People buying homes have many more options under the two-hundred thousand dollar level than last year.
Last month there were just over one-hundred and thirty properties with values under two-hundred thousand dollars in Minot and in March 2016 there were only 94.
The annual report also looked at motels and apartments which have decreased between twenty to thirty percent.
“Now property values have leveled off and they’re kind of coming down so now people will see their property assessment drop off and it’s too early to tell how that will affect what actually paid property tax dollars in December.” said Kevin Ternes.
The annual report will be presented at the Board of Equalization next Tuesday.