The assessed property value in Suffolk rose by about 1.97 percent, City Assessor Jean Jackson told City Council members during their Wednesday work session.

Much of the increase is due to new construction around the city, Jackson added.

According to preliminary data, foreclosures dropped in 2017 to 204 from 340 in 2016, and property sales increased from 2,504 to 2,771.

While assessed values of properties in Suffolk have risen, so has the participation in tax exemption and tax relief programs.

The assessed value exempted for disabled veterans has grown more than 27 percent from the last fiscal year, and that totals to $103 million. The assessed value is even higher for the elderly and disabled tax exemption, totaling almost $260 million.

The share of the assessed value of residences is continuing to fall, while assessed value for commercial properties is rising. This means more of the tax burden is on businesses and less of residents.

The numbers presented by Jackson are a small snapshot as of Jan. 1, Jackson said. The numbers do not take into account increased value since then as well as properties coming on the books very recently.

The data is another piece of the puzzle in the city’s budget process. The city faces several new obligations and rising costs this year, including the opening of two new schools and round-the-clock staffing of the Chuckatuck fire station with career firefighters.

The city manager’s proposed budget will be presented to City Council in April.