Olmsted County Real Estate Quiz Posted By: greggwright August 14, 2017 Welcome to your Olmsted County Real Estate Quiz How much have property values increased since 2009? $0.6 Billion $1.6 Billion $2.6 Billion $3.6 BillionSince 2012 how much has the value of new construction increased in the county? $38 million $138 million $238 million $338 millionOf the projected construction values in 2018 what percentage of the total value is residential? 40% 50% 60% 70%In 2017 what is the average amount paid for houses sold in the county? $217,700 $237,700 $257,700 $277,700How many apartment units have just opened, are under construction, or being planned? 2,979 3,752 3,929 4,794What is the major driver of new construction and rising property values? CMD DCM DMC DCMHas Olmsted County met the state requirement to review property values? Yes NoHow many new plats have been recorded so far this year? 17 18 20 22How many occupied properties were forfeited and returned to the county? 25 15 8 NoneWhich government agency has the authority to create zones for Tax Increment Financing (TIF is a tool that allows a business to build and relieves them of paying property tax on the building for 20 - 30 years). City Council County Board Minnesota Legislature Only the City Council and County BoardTime is Up!