Growth in Detroit's commercial property values has slowed, but neighborhoods outside the downtown business district are seeing commercial values rise substantially for the first time in at least six years, officials said Tuesday.

The overall assessed value of commercial property in the city is expected to rise 4.7 percent from 2019 to an estimated $5.1 billion in 2020, according to data from the city's 2020 property value assessment released at a Tuesday afternoon news conference.

This comes after a more than 60 percent jump from 2018 to last year's total assessed value of $4.9 billion, according to data provided by the city. The smaller rise this year is due to slowed growth in the downtown core — which the city expected, according to Chief Financial Officer Dave Massaron — and the readjustment in values that came from the first citywide reappraisal of commercial property in decades, in the aftermath of the Great Recession and municipal bankruptcy.

As for residential properties' worth, Detroit anticipates a nearly 20 percent increase from 2019 to a total of $4.1 billion in 2020, officials announced Tuesday. The city says it is the largest annual rise since 1997.