Story Hill assessments flat
One side of Wisconsin Ave. drops;
the other doesn't

May 7, 2007 -- Assessment values in the Story Hill neighborhood crept up an average of $1,300 from last year, according to City Assessment Commissioner Mary Reavey.

That increase of just 0.52% is the smallest in years.

"In 2006 the average value was $251,600.
In 2007 the number is $252,900," Reavey said. "With the market stabilizing we spent more time on commercial values and held the residential pretty much constant."

The small increase, she said, "is probably due to new construction or some other kind of inventory change within your neighborhood."

While the average home value rose slightly in Story Hill, they dropped significantly along the south side of Wisconsin Ave., according to assessment data. They did not drop on the north side of the street.

Every home but one on the south side of Wisconsin Ave. from 45th St. to 51st St. dropped in value. The average assessment decrease was $13,694, or 5.9%.

The remaining home did not change in value from last year.

On the north side of the street, none of the homes dropped in value. One property increased in value by $500, and the other assessments were unchanged from last year.

"That's bizarre," Ald. Michael Murphy said of the north side / south side Wisconsin Ave. split. No one has contacted him about it, he said.

Homes on the south side of Wisconsin Ave. still are worth more than those on the north side. Their average 2007 assessed value value is $218,618 on the south side of the street and $197,388 on the north side, a 10.8% difference.

Reavey said some assessments were adjusted throughout the city "in order to establish better relationships within certain neighborhoods."

She said she had directed that the Wisconsin Ave. situation be reviewed to determine specifically what happened.

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