Duval County property values buck Florida trend by declining in 2013

[fsquid]

3 years to process a foreclosure?  Holy crap

[m74reeves]

Metro Jacksonville also was second in the nation for second-quarter foreclosure rate, with a total of 6,266 filings, or one in every 95 households.

This is June 2013 data from Realty Trac.
http://www.bizjournals.com/jacksonville/news/2013/07/11/jacksonville-ranks-no-3-nationwide.html

[simms3]

^^^None of that surprises me.  Sad and certainly the reason for the slipping tax base.  How else do you explain a population that is growing, an increase in investment sales in areas of the commercial sector (multifamily, industrial?), and new housing development coming back to a material degree?  The article wasn't investigative at all.  How about tying things together that are clearly related?

After reading the article, I know little in a meaningful way as a potential resident how my home is assessed.  I have learned statistics that mean absolutely nothing to me.  Basically, there was no takeaway from the article, except that mysteriously the ad valorem tax base in Duval County continued to slip while virtually every other city saw an increase.  Jacksonville's foreclosure rate is nationally notable...how about comparing tax bases to other heavy foreclosure cities and looking for trends.  And if their foreclosures are now decreasing and tax bases increasing, note the trends and investigate what those communities may have done differently.  No wonder the FTU's subscription base has plummeted!

[FSBA]

Another thing is what is happening with all of these foreclosed homes. A buddy of mine lives in one of the developments off of New Berlin that were built right before everything went to hell. You see the "For Sale/Homepath" signs all over.

I'm not sure if it still as easy, but around 2010/2011 most of the houses sold in the development were being turned into Sec. 8 homes. I'm sure that didn't do great things for property values.