Property values: Pandemic changes make it time to reassess assessments Demand for residential properties in once vacation-only spots is rising. May 22, 2021 6:00pm Text size Copy shortlink:
The pandemic s rapid and topsy-turvy impacts on property values, assessments and more have prompted plenty of problems. But also opportunity.
On the home-sales front, the rise in working remotely has meant people being able to work and live pretty much anywhere, even places that once were strictly vacation spots.
Think New York or Twin Cities wages in a Duluth or North Shore setting and cost of living. The demand for residential properties, including here, has exploded. Houses are being sold before they re on the market. Buyers are offering more than asking prices and are forgoing inspections to beat other purchasers. Unheard of in the past, but suddenly not anymore.
Commercial property owners say pandemic lowered value of their real estate holdings
Many businesses are challenging St. Louis County s estimated market values and are instead calling for tax relief. Written By: Peter Passi | ×
Duluth s Miller Hill Mall sits quiet before opening Monday, May 3, 2021. The mall’s owner, Simon Properties Group Limited Partnership, is challenging the estimated market value of the property. The county assessor valued it at $35,344,800 unchanged from the 2019 valuation. Simon argues the value of the property has declined because of the pandemic and market conditions. (Steve Kuchera / skuchera@duluthnews.com)
At a time when home values have been soaring in the Northland, many owners of commercial properties are describing a quite different phenomenon.
Developers plan mixed-use gateway to downtown Fargo at corner of Broadway and Main
Developers will transform what is now parking lot on the corner of Broadway and Main Avenue into a mixed-use building 7:48 pm, Dec. 28, 2020 ×
This rendering shows the possibilities of how a proposed new headquarters for JLG Architects and Development along with apartments and condos will look at the corner of Main Avenue and Broadway. An arts park on the west side of the building is also part of the plans. JLG Architects / Special to The Forum
FARGO A six-story mixed-use building with a public arts plaza on the corner of Main Avenue and Broadway that will serve as a gateway to downtown took its first step in development on Monday night, Dec. 28.