Some $241 million worth of Bibb County home values evaporated in 2011, even as residential property values stabilized in much of Houston and Peach counties, newly released figures from tax commissioners show.
Worst hit were properties inside Macons city limits, where home values fell about 6.5 percent, from about $2.25 billion to $2.1 billion. The city has been losing population for decades, according to the U.S. Census Bureau. Unincorporated Bibb County also lost nearly $100 million in home values, at a rate of about 2.7 percent.
Things were more polarized in Houston County, where Warner Robins residential values climbed about 3.4 percent and residential properties in the unincorporated area fell by about 3.4 percent.
The values come from each countys tax digest, which is a tally of each countys assessed taxable value. The Telegraph compared the digests that show valuation on Jan. 1, 2011, and Jan. 1, 2012, to find the changes. Changes in value can be the result of construction, maintenance, upgrades and basic market demand as some properties become more or less desirable.
The overall changes show the housing market may have become relatively stable in Houston and Peach counties.
Residential properties account for roughly half the overall taxable value in each county. Other categories -- everything from commercial and industrial properties to cars and timber -- account for the remainder.
Overall, taxable values in Houston and Peach counties remained fairly steady. Houston County lost about 0.3 percent of its value, falling about $28 million overall in a tax digest thats nearly $9.9 billion. Peach County grew about 0.7 percent, adding about $13 million in value to a digest thats about $1.8 billion.
Bibb County lost about $431 million in assessed value overall, to about $11.4 billion. Those changes were forced by losses in categories besides residential.
Commercial values inside Macon fell 5.7 percent, dropping about $110 million in value. Commercial values in unincorporated Bibb County remained fairly steady, dropping about 0.6 percent and $10 million.
Bibb County industrial properties also were hit hard. In Macon, they fell about 2.1 percent or $8 million. Declines were worse outside the city limits in unincorporated Bibb County, where industrial losses totaled $29 million, or a decline of 5.3 percent.
The biggest change in commercial property values were in unincorporated Houston and Peach counties. In unincorporated Peach County, values climbed about $6 million, an increase of 19.4 percent. In unincorporated Houston County, commercial values fell $27 million, a drop of 12.2 percent.
Industrial properties in Perry also lost about $7 million in assessed value, a decline of about 6.8 percent. Perrys commercial and residential property values improved.
To contact writer Mike Stucka, call 744-4251.