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Home valuations in Maricopa County drop 11%

Maricopa County homeowners will see how much their homes are worth when county tax valuations begin arriving in the mail Friday.

The Arizona Republic reports the numbers will reflect the fourth consecutive drop in home values.

The Maricopa County Assessor’s Office says residential-property values fell an average of 11 percent last year.

The numbers do show home value prices aren’t dropping as fast.

In 2010, the overall median value of homes in the county fell to $117,700 from $132,200 in 2009.

Homeowners in some cities did better than others.

County assessor numbers show home values declined only 1.8 percent in Litchfield Park but dropped 45.3 percent in nearby Tolleson.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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