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Home Values compared to Tax Assessments in the City of Harrisonburg

I'm asked quite frequently about the relationship between home values and tax assessments.  After a lengthy analysis of the 266 home sales in the City of Harrisonburg during 2011, as recorded in the HRAR MLS, here is what I'm finding....

Home Values compared to Tax Assessments in the City of Harrisonburg

click the infographic above for a printable PDF version

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Home Price Gains in the Context of Inflation

There are lots of ways to evaluate home prices in our area these days based on the data set that we select... All home sales Just detached home sales Just resale homes…