Salisbury – Maryland’s State Department of Assessment and Taxation has released the results of their latest assessments of residential and commercial properties, and Mayor Jake Day is pleased to announce that the Salisbury area leads the state with a 30.9 percent increase in commercial property valuation. Statewide, the average is 12.5 percent.
“I’m not surprised at the results given the tremendous growth we’ve seen over the past few years,” said the Mayor. “The purpose of our constant and tireless efforts to grow the economy in our City is to create value for the families, shop owners and workers of our community. These significant and dramatic increases in value represent concrete evidence that those efforts are working. The vast majority of the properties assessed this year are in our great City and I am delighted to see our hard-working citizens gaining ground faster than anyone else in the state.”
According to SDAT, overall high sales prices and lower vacancies led to the dramatic rise in commercial property values. Total property assessments rose 11% in the portion of Wicomico County that was assessed for January 1, 2019, the fourth highest increase in the State. The increase in Full Cash Value of properties in the Salisbury area rose more this year than any year since the housing bubble burst in 2008.
The latest assessments were reached by evaluating the last 3 years’ sales, and factoring for improvements to the properties being assessed and/or the surrounding properties. Property value increases will be phased in over the next 3 years, while losses in property value will be implemented in the coming tax year.
23 comments:
No where to go but up when you are in the shitter.
A 30% increase when you are at -30% is still zero.
Its all fake news because they never tell you the actual full truth in numbers
Grow the economy?
A wawa, royal farms, aldi's and a starbucks? Because that's all the growing that went on here.
Government assessments are a way to raise taxes people. Remember the higher the assessment the higher the taxes , simple political robbery . IT"S the government people . How in the hell can a city with the largest population of
"the hood" have good property value ? Come on now , read between the lines if you can read.
Clean the hood up we are the nastiest city in Maryland to a lot of us. The houses in the city are over populated they do not meet the criteria of how many people per house and they look like slums especially all the rentals. Since Susan is no longer with the Code & Compliance the city's inspectors ride through and never even glance at the deplorable houses, the boarded up homes, dumpsters in the back yards overloaded since last summer, trash consisting of old tires, plastic and metal, wood pallets, junked multiple vehicles tags expired , abandoned vehicles that don't run even. Houses that were being remodeled last summer and left abandoned, siding stripped off, Tyvek wrap sheets blowing in the wind for months. I bet if I were a building inspector just in the city across from the famous Festival I could write no less than a MILLION VIOLATIONS. Open your eyes and get your head out of your ---! COME CHECK IT OUT WITH CAMERAS JOE AND SHOW THEM ON YOUR BLOG!
Go on loop net commercial properties and see how many local businesses for sale.
Total BS.
12:34- EXACTLY!!!
An increase in property value is all the land lords need to hear to raise rents on small businesses that struggle to stay in business as it is. Jake Day is a friggin idiot.
figures lie and liars figure! nuff said!
We sold our home and of course it was appraised. Never found out what it's value was. We didn't care. We were selling and got the best price capable in Fruitland. Sure it was 30 percent like the say for commercial. Good to be out of there.
Yeah it's ponzi franchise realtors renting spaces to more of their own and circle jerking the city that real business is coming here. I don't think craft brew pubs and shrink wrapped boutique sneaker fetishists and tat artists create a lot of jobs here. I know they think it's HIP but it will never be HIP here. It's just not that kind of place and never will be. I don't care how much the young lawyers post them selves shirtless on instagram if they were that smart they would not be here chasing Ambulances and teaching at Worwic and SU. LOL
I don't know a lot about economics but I was thinking what you said 12:34. I'm thinking the same as others also. That report is nuts.
Get a load of these lies.
From the posted auction of the golf course on loopnet:
Horse Bridge Golf Course (the Property) is a 45 acre fully operational golf course located in Salisbury, Maryland approximately 25 miles due west of the Maryland Eastern Shore. The offering represents the value-add opportunity through capex or redevelopment to maximize highest and best use.
Here is the hysterical part -
Salisbury is a city and the county seat of Wicomico County, Maryland and the largest city in the state’s Eastern Shore region. The city is the principal city and commercial hub of the Delmarva (Delaware-Maryland-Virginia) Peninsula. According to the US Conference of Mayors, the Salisbury MD-DE Metropolitan Statistical Area had the 7th fastest rate of job growth in the nation in 2016, with a 4.2% increase in employment. Salisbury is centrally located near several large to major cities: Baltimore, MD (106 miles); Washington, DC (119 miles), Philadelphia, PA (128 miles), Norfolk, VA (132 miles), Dover, DE (50 miles), and Wilmington, DE (96 miles). The population within 5 miles of Horse Bridge Golf Course is stable and predicted to improve over the next 5 years. Over 60% of the people in the market have a college education. Further, the trade area is highly affluent with average household incomes exceeding $65,000.
Highly affluent? Here? Ha ha ha
Probably skewed by the Galley Building magically jumping from a $250k value to $4.4 million. Of course Gillis Gilkerson would have nothing to gain from a phony 30% commercial property value increase statistic.
With all of the low income housing being constructed, we will see what happens to values. Also please note the signs near the project, not one a local contractor. We are really supporting our local businesses
No local contractors on SU projects,solar and electric substations all out of area contractors.
The numbers are not good the property values are from being the highest in bank foreclosure in the state so when that is figured in it looks like Wicomico county is doing awesome. Homeowners and businesses are going bankrupt and the property is being foreclosed upon and resold which gives you a bad number that you can spin as growth.
Did you know the MD Dept of Taxation rents office space from the Rinniers? Could there be a correlation between said office rent (or not) and this news about Salisbury being assessed higher valuation for commercial property?
Look around town for proof of this stat. Many businesses are dilapidated, falling apart and empty. Wendy’s corner of 13 & College. Still vacant after what is it? 2 years? Thought there were big plans for that space, yet here we are 2 years later, empty dilapidated shack with a rent sign in front. So much for those plans.
What about the strip mall a block away on College Ave? Radio Shack left and now it has what 5 businesses and a dental office. No grocery store. That left with Super Fresh vacated 10 years ago and nothing has replaced it.
So, fellow citizens, the question really boils down to this, if this above figure is true, why don’t you all have a Harris Teeter or Whole Foods? Riddle me this one because I really want to know.
This is why marijuana should not be legal in Salisbury.
I believe the $65,000 per household. That’s how much a household makes when. You have 10 illegal Mexican workers living in one house. 👍🏻👍🏻👍🏻 bravo.
What in the world does that have to do with anything?
If the city officials and Mayor really believed the values of properties were going up so much then why Did they give away so many of your commercial downtown properties for a mere $5000 to $15000 each?
60% of local golfers have a college education? Really?
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