DALLAS — Colorado property values fell 5.3% in 2010 and are expected to fall another 6.9% in 2011, according to the December economic forecast from the nonpartisan Legislative Council.

Total assessed values of $92.6 billion are expected to drop to $86.2 billion in 2011, representing the first decline in property values since the real estate bust of the late 1980s that coincided with the savings and loan scandals.

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