Commercial Equalized Value Rises

May 7, 2004
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GRAND RAPIDS — The State Equalized Value for commercial property in Kent County rose by 4.1 percent over the past year, growing by $145.3 million to $3.71 billion.

According to the 2004 Kent County Equalization Report, 26 of the 30 jurisdictions in the county saw their commercial real estate SEVs rise.

Five had double-digit increases, led by Grattan Township’s gain of nearly 30 percent.

Other double-digit gainers were Byron Township, Lowell Township, Oakfield Township and Vergennes Township.

Eight of the county’s nine cities had an SEV increase.

Lowell, Rockford and Walker had the largest percentage increases: 7.9 percent, 5 percent and 4.8 percent, respectively.

Kentwood and Grandville both posted gains of 4.3 percent, while Grand Rapids and Wyoming had gains of 2.2 percent.

The Grand Rapids SEV, however, rose by almost $23.6 million or 16 percent of the total commercial SEV increase in the county.

Here are the SEVs for each county jurisdiction for the last two years and the percent change from 2003 to 2004 for each.    

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