It also depends exactly which neighborhood you're focusing on. Across the interstate, I dare say it has had no impact. The neighborhoods around the park have benefited more from rehab work than directly from the Village itself. It does seem with increased press about the College Hill Corridor, that demand has increased, and that has helped stabilize values.
Also, it should be cautioned that tax values are not true market values, so you should avoid relying on those assessments for appraisal values. No appraiser will reference tax values when creating an opinion of value. They are getting better at appraising nearer to a market value, but they are still off.
Hope that helps!
"The study, funded by a Knight Neighborhood Challenge Grant and conducted by Middle Georgia State Collegeâ€™s Center for Economic Analysis, shows that property tax revenue generated in College Hill from 2002 to 2011 increased by 57 percent. That compares to an increase of 30 percent in all of Bibb County over the same time period."
Read more here: http://www.macon.com/2013/08/01/2586489/officials-celebrate-