Depending upon their location in the county, however, some properties have increased in value at a higher percentage than others — whether this is good news or bad depends on whether one sees their house as a home or an investment.
Most people, said Trigg County Property Valuation Administrator Michael Bryan, don’t mind learning that their home is worth more.
“They didn’t buy it to lose money in it,” he said.
Bryan said some portions of the county — specifically on the lakes, but also at some locations within Cadiz city limits — continue to see homes selling quickly and for sums far greater than their previously appraised value.
For instance, a home with 864 square-feet of living space on the water in the Canton Heights area, last appraised at $128,000, sold in June for $212,000.
Bryan said some homes elsewhere on the lakes are fetching upwards of $350,000.
Bryan, who has been the county PVA for 13 years, appraises a home’s value based on how other homes of comparable size in comparable neighborhoods within the county have sold. That means if two neighbors have identical floor-plans and one of them can find a buyer to shell-out $100,000 more for their home than what it’s worth, they have also increased the property value — and the taxes paid on it — of their neighbor.
Nothing was done any differently in assessing homes’ value this year, Bryan said — the higher values merely reflect the fact that homes continue to sell above their appraised value.
There is a procedure for appealing the appraised value of one’s home, Bryan said. First, homeowners can schedule a conference with Bryan to see if any adjustments are possible. This, he said, solves “99 percent” of disputes, while a county appeals board reviews the remaining cases in June.
Though Canton resident Dan Quick said he appreciated an appeals conversation he had with Bryan, he will be appealing his case before the county board, his property value having gone up 21 percent.
“I can’t take many 21 percent increases,” said Quick, who said he lives about a football-field away from the water.
Quick said he’s lived in almost a dozen states, but was ready to quit his nomadic tendencies.
“I don’t want to do that anymore. I like this small community,” he said. “Frankly, I intend to stay — if I can afford it.”
For the rest of this story, please see this week's edition of The Cadiz Record.