City of Hardwick sees increase in home values; first time in five years

Home values in Hardwick increased for the first time in half a decade.
That information was presented to the city council Tuesday, April 12, at the city’s annual board of appeals and equalization meeting at the city hall.
“Residential values were unique for the first time in five years,” said Tom Houselog, the county’s Land Records Office director.
“We increased values a little bit. … They are still lower than they were six, seven or eight years ago but they are up.”
Hardwick experienced an average increase of 4.6 percent on all properties.
Residential values increased 3.8 percent along with a 5.9 percent increase on agricultural (tillable) land.
Industrial/commercial properties, however, declined 1.8 percent.
One resident attended the public meeting to question why the value of his residence increased.
Houselog explained that assessors use qualified sales data to determine the estimated market value for property taxes payable the following year.
Hardwick had one qualified home sale between October 2014 and September 2015.
“We were about 15 percent low on that one,” Houselog said.
State statute requires market values of similar properties stay between 90 to 105 percent. Analysis of qualifying sales above or below that percentage determines if a particular market’s value is increased or decreased.
Houselog said another residential home sale occurred in Hardwick after September 2015 and again that property was also 15 percent lower than the ratio.
“We saw a pattern here and so we had to add a minor increase,” he said.
Mayor Jan Baustian said another citizen stopped her and asked what happens when assessors are refused entrance into a home.
Houselog said homeowners have the right to refuse anyone entrance into their homes. However, as a result the owner loses the right to appeal the assessed value of the property.
Without an interior inspection, assessors will make an exterior assessment only to determine market value.
“It is more difficult (to assess value) if we don’t know what is going on in the house,” said city assessor Jeff Sehr.
Houselog also presented city officials with a list of the taxpayers and payment amounts.
Seven out of Hardwick’s top 10 taxpayers are owners of agricultural land.
Houselog said more than 1,000 acres of cropland lie within the city limits of Hardwick.