Real estate values up, but down in Warren
WARREN — Warren is one of only a few communities in Trumbull County that did not see growth in residential property revaluations, according to data supplied by Trumbull County Auditor Adrian Biviano.
An average 5.3 percent decline in property values in the city doesn’t mean every person’s property values went down, Biviano said. In some neighborhoods, property values may have increased, and in others, may have declined further since revaluations in 2011 and 2014, Biviano said.
The numbers show the area’s property values are mostly moving up, but still have not rebounded to pre-2008 values, Biviano said.
Individual property owners will be able to check the revaluation of their homes in November once the numbers are finalized. Changes don’t result in direct, dollar-for-dollar adjustments in property tax rates, but may lead to changes, Biviano said. The auditor’s office will be available for individual meetings after November to discuss the changes, if property owners dispute the valuation increase.
Values in Warren Township decreased an average of 2.5 percent, by 1.6 percent in Braceville and 0.1 percent in Southington.
All other townships, cities and villages saw increases.
Brookfield, Bazetta and Kinsman properties saw the largest average increases in values — 7.2 percent in Brookfield, 7 percent in Kinsman and 6 percent in Bazetta.
Most other increases were betwen 3 and 5 percentage points.
The average increase countywide was 2.9 percent for residential properties. Commercial properties on average countywide increased by 3.8 percent and industrial values went up 7 percent.
A firm appraised all 168,000 properties in Trumbull County for market value, considering physical characteristics, recent sales of similar homes and individual neighborhoods.
Agricultural property values grew an average of 4.7 percent countywide.
Braceville and Warren townships saw the only decline in agricultural values, by 1.2 percent in Braceville and 1.4 percent in Warren Township. Growth was below 3 percent in Vienna, Brookfield, Liberty, Lordstown, Newton and Southington.
Values increased by 8 percent or more for agricultural land in Kinsman, Gustavus, Greene, Mesopotamia and Vernon.
The valuations do not include new construction.