fedgazette

Marquette property values continue to rise

Michigan State Roundup

Published July 1, 2002  |  July 2002 issue

Despite the area's depressed economy and high unemployment, property values in the Marquette area continue to rise. During the past year, property values in Marquette County went up nearly 7 percent, from $1.4 billion in 2001 to $1.5 billion this year. That's the fourth straight year with a more than 5 percent increase in property values.

Although Marquette County's property values did not rise as much as southern Michigan counties—which saw increases averaging 9 percent to 10 percent—local officials saw the increase as positive sign in light of other sagging indicators in the local economy.

Among the county's three cities and 20 townships, only one township saw its property values decrease. From a use standpoint, the largest increases this year were in agricultural properties, which rose nearly 15 percent, followed by a 9.2 percent increase in residential properties, an 8.3 percent increase in commercial properties and a 3.6 percent increase in industrial properties.

Rosie Cataldo

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