Jackson, Wyo. – Property values in Teton County are expected to drop for the first time in at least a decade.
Once all residential and business property is accounted for, the total assessed value for 2010 is expected to be $1.2 billion. That would be 11 percent less than 2009.
County assessor Cathy Toolson says the drop is an indicator of the slumping real estate market. However, she says the decline is less severe than originally expected because of new home construction.
The county is seeing more sales this year compared to last year but the values are lower than average.