County assessors at March 2 council meeting

At the Monday, March 2, New Prague City Council meeting, the Scott and Le Sueur county assessors will be present to discuss property values in New Prague.

Representing Scott County will be auditor Cindy Geis and assessor Farley Grunig and for Le Sueur County it will be assessor Dave Armstrong. The council will be asking a series of questions including:

• How has the Parish Homes foreclosure situation impacted New Prague residential property values?

• How are new construction home valuations being determined with the high number of foreclosed homes?

• How are foreclosed homes (Parish and others) and foreclosed home sales foreseen to affect property values in New Prague and are the number of foreclosures expected to be similar to what was seen in 2008?

• Can you provide an overview of New Prague's residential vs. commercial vs. industrial markets?

• What is the overall process for residents and other property owners for property values to be determined?

• Can you explain the statutory process as to how values can change in light of market conditions?

The counties set the assessments and market value of homes. New Prague is divided between the two, residents south of Main Street are in Le Sueur County and those north of Main Street are in Scott County.

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