High vacancy rates in downtown Des Moines are expected to push down Polk County's commercial values for the first time in at least 30 years, ans the Des Moines Register reports that'll mean lower tax revenues. Commercial property assessments are expected to fall just over 5% in Polk County from 2009 to 2011. Preliminary estimates show residential assessments will drop between 4 to 5%. County Assessor Jim Maloney calls this new territory, because property values have pretty much always increased.
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