That same year, the Census Bureau reports that a typical household included 2.94 people. In 1975 we could expect to allocate 559.52 square feet of new home space for each household member in a country where a majority of the population lived well relative to virtually all other nations. In 1997 we had 2.64 people in a typical household and new homes had an average of 2,150 square feet. Maybe more and more people will want two houses. Perhaps larger families will become more common.
Assessments are valuations made by government agencies to value local property.
Property taxes are then calculated on the basis of assessments. Peter G. Miller, the publisher of Realty Times, is the author of six real estate books, the original creator and host of America Online's Real Estate Center, and a regular columnist with The Real Estate Professional. Written by Peter Miller Click here for a printer-friendly version of this article. Click here to translate this page to another language. Click here to e-mail this article to a friend.