Property values skyrocket in northwestern ND city

Associated Press

MINOT, N.D. (AP) — Minot officials say property values within the northwestern North Dakota city have doubled in the past 10 years.

A financial report shows that the city's 2010 valuation was more than $2.56 billion, up from $1.31 billion in 2001.

Valuations increased about 12 percent from 2009 to 2010.

Officials tell the Minot Daily News that while the figures are partly a reflection of inflation, it shows the city's significant growth and confidence in the economy.

The report cites the oil boom as a key factor, but notes that energy isn't the only industry making a mark in the city.