Amid a bleak economic climate, the Jefferson County Assessor’s Office is projecting a 7 percent decrease in commercial-property values for 2012, while little change is expected in residential-property values.
Jefferson County Assessor Jim Everson said the forecast is merely a “general overview and guideline” for county officials in an uncertain market and that a revaluation of properties next year will be definitive.
Still, he said, “Think in terms that there will be a 7 percent decrease for commercial properties.”
“We think we’re going to see significant commercial-real-estate declines,” he said. “What we’ve seen is there is declining revenues for some commercial buildings (in Jeffco).”
Jefferson County Commissioner Kevin McCasky said general funds would feel the impact of the decrease.
“It’s in the range of about $8 million,” he said. “And that’s just general funds.”
Everson said he sees the fall of revenues and net incomes for commercial real estate becoming “fairly prevalent” and that the economic climate is driving the decline.
“It’s a riskier investment climate today than before for investors,” he said.
Everson says residential properties in Jeffco are doing “OK.”
“Residential properties are holding their own,” he said. “Commercial segments are being affected the most.”
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Simon Moya-Smith: 303-954-2396 or moyas@YourHub.com
