Property values across Davis County have steadied after years of turbulence, according to the Davis County Assessor's 2026 Annual Report.

The report, published by Davis County Assessor Andy Hansen's office, tracks assessed values for every city in the county, including Bountiful, Farmington, North Salt Lake and Woods Cross. Its central finding: values saw "continued recovery" through 2025 following the disruption that hit in 2022.

That disruption was sharp. The national average for 30-year fixed-rate mortgages jumped from 3.22% to 6.48% between January 2022 and January 2023, according to Federal Reserve Economic Data cited in the report. As of January 2026, rates remained around 6.15%, per Freddie Mac.

Higher borrowing costs reduced buyers' purchasing power and brought turbulence to the local housing market. But the report states that since mid-2022, home values have "mostly stabilized and began to increase again," though not at the pace seen before the rate hikes.

On average, Davis County homes have more than doubled in value since 2016, the report states.

Single-family residential values followed the same recovery pattern through 2025. Condo and townhouse values saw similar increases, though the assessor's office noted those figures tend to vary more between cities because fewer properties exist in that category.

New construction slowed

The rate increases also hit building activity. Before 2023, new construction in Davis County had been climbing each year, with only a brief dip in 2020 during the COVID-19 pandemic. That trend was "altered heavily" in 2023 and 2024 following the 2022 rate changes, leading to a decrease in building, the report states.

Fewer appeals succeeded in 2025

Homeowners who challenged their property valuations had a tougher time in the 2025 tax year. Only 34.4% of appeals resulted in an approved reduction. Another 50.8% were denied, 2.7% were withdrawn and 12.1% remained pending.

The assessor's office noted that in a typical year, about half of appeals lead to value reductions. The report did not explain why the 2025 approval rate fell below that benchmark.

Property owners who disagree with their assessed value can file an appeal after valuation notices are mailed around July 23 each year. The deadline is 45 days after the notice is mailed or Sept. 15, whichever is later.

Local economy holds steady

Davis County's economy remained solid heading into 2026. The county's unemployment rate stood at an estimated 3.4% in April 2025, up slightly from the prior year but below the 4.3% national average, per the Utah Department of Workforce Services. Hill Air Force Base remains the county's largest employer.

The county's 2025 population was estimated at 381,227 by the U.S. Census.

The full report, which includes city-by-city breakdowns of assessed values, commercial property data and new construction figures, is available on the Davis County Assessor's website.