Why Would the Value of Land Decrease so Drastically?

[Alexander Zurn]

I am looking at properties in Warren, RI and multiple properties land value substantially decreased in 2013, between 15-30k! I'm just wondering what would explain this? The price has stayed the same through the 2015 assessments.

That's scary to think one year your property is at its peak and you're thinking of selling, then  a new assessment comes in and drops the total assessed value by $30,000.

I understand that the assessment is not what drives the price but some people (hopefully many investors) give it a look when considering a property.

This also seems to be consistent throughout the small city of Warren - not specific to 1 property.

Thoughts? 

[Jeff Keller]

Hi @Alexander Zurn ... most areas started improving in 2012 so 2013 would be a strange time to reassess lower. There is a low possibility that a lot of property owners decided they wanted out and the increase in 2012/2013 triggered them to sell while they could. There might have been a downturn in job prospects. Out of curiosity I did a quick search and unemployment seems to be going down quite steadily ( http://www.towncharts.com/Rhode-Island/Economy/Warren-town-RI-Economy-data.html ). I don't see any obvious reason for a lower assessment.

My experience with many government websites is that they are constantly changing without trying to provide any history. I doubt they would have any surviving explanation for the reassessment.