Sherburne County Assessor Jerry Kritzeck believes prices of land and buildings will bottom out this year in the county, after dropping 15 to 20 percent since the recession started.
Kritzeck plans to review building and land prices and changes in assessing land and building values when he speaks Feb. 16 at noon in Perkins Restaurant. The talk is sponsored by the Elk River Citizens League and is open free to the public. Lunch will be served starting at 11:30 a.m.
The assessor believes sales prices on land and buildings will not drop much more after this year. “I think things are turning around and sales are holding somewhat steady,” said Kritzeck.
He will review how sales of buildings have started to climb, pointing to 404 sales in the county from Oct. 1, 2009, to Sept. 30, 2010, compared to the previous year’s sales of 381.
Meanwhile, he has instructed his assessors to reduce values on houses and garages by 3 percent more, effective Jan. 2 of this year for taxes payable in 2012. For the last three assessments, the values on houses and garages have been lowered 18 percent since 2009.
Kritzeck, who is in his 10th year as county assessor, will also discuss the changes in values of agricultural land and particularly those caused by the Green Acres program. He noted that there is a drive on in the Legislature to repeal the changes.
A resident of Big Lake Township, Kritzeck was an assessor for Sherburne County for 20 years before he was the Wright County assessor for three years
His department has a chief deputy, an assistant and 10 other assessors.