Re–val article falls flat for reader
To the Editor:
Regarding your article "Taxpayers shocked at re-evals", I read with anticipation, then utter disappontment.
Neighbors and friends, like me, had our home values adjusted upwards. These homes had already been properly valued last year.
According to Robert Shiller, of the Case-Shiller index, home values nationwide dropped approximately 30 percent during the Great Depression.
The Case-Shiller 20 city index shows that as of June, 2009, home prices have dropped over 30 percent from 2006 levels.
The question that your writer did not ask or address-How in the world can Madison home values go up while the national average shows a decline worse than the Great Depression?
Maybe your reporter could check home sales in Madison for 2008, and compare with appraisal values?
The article did not inform much-please try again.