Pitkin County Assessor Tom Isaac says the local real estate market didn’t take a dive until the fall of 2008. Some Aspen real estate brokers contend the market began to slide an entire year before that.The disagreement is central to a controversy that is beginning to bubble over the assessor’s latest property valuations. Isaac’s office uses a “time adjusted price” that inflates the value of properties so they reflect what the homes were worth on June 30, 2008, — the cutoff date for the valuation period.
By Troy Hooper, May 26, 2009, ADN

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