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Hampton sees $312 million wiped off the assessed value of its real estate in a year
Posted on Sunday, February 28, 2010 - 9:45am
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According to the Daily Press, the value of assessed property in Hampton has fallen by 2.71 percent from a year ago as $312 million was wiped off the assessed value of real estate during the recession, figures released Friday reveal. The fall follows a modest rise in values from the fiscal year 2009-10 to 2010-11 and has contributed to the large budget shortfall Hampton is facing in 2010-11.