Can’t decide which response is the correct one:My question is: once the housing bubble bursts in a couple years, will tax assessments drop commensurately?
What drugs are you on? or
Are you f’in nuts?
Can’t decide which response is the correct one:My question is: once the housing bubble bursts in a couple years, will tax assessments drop commensurately?
BTW, this activity was part of the precursor of the downturn, just saying…Are you aware that flippers are buying new construction homes from production builders and selling them as soon as they are completed for $50,000-$100,000 more than they paid the builder? It really can change a lot in 6 months…
Post #18.Our district was targeted for an increase (as told by the gal at the government building). They have a form online you have to fill out to appeal. Moved to my home in 2019 and have had to appeal every year. Successful each time.
Just got another one for this year. This should be fun. The last round I had to prove they were wrong. We had refinanced in October and got a professional assessment per the process through the bank. The assessment was substantially lower that the state's numbers. The appeal was taken care of in January. Fast forward to the current paper: How my recent assessment go up $40k+ in a few months?
I'm going to request a meeting in front of the board for a detailed explanation if his numbers. That usually backs the dogs off. They don't like having to justify their numbers having never set foot on my property and being shown by a professional they were grossly incorrect.
Even Zillow found out that their valuation is garbage.Fortunately they aren't using Zillow's valuation as that is up ~45%.
You should be able to see the difference in your actual tax rates vs. the previous year. Your bills should break them down.What did it show up as? I don't see any mention of it, but the Township rate jumped by 5x.
Yeah i can see the difference. The only rate that changed significantly was the Township Rate, it is 5x higher than last year's. I don't see any mention of the fire territory, I'm assuming that's the reason for the township rate change.You should be able to see the difference in your actual tax rates vs. the previous year. Your bills should break them down.
The assessment is the overall value of the property, the rates are the % of that value you pay yearly as taxes.
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How my recent assessment go up $40k+ in a few months?
Which township are you? I know the fire territory in Knox failed to pass but the one in the Hamlet area passed.What did it show up as? I don't see any mention of it, but the Township rate jumped by 5x.
We just received our new property tax assessment and let's just say, No ****ing way. The 2021 assessment was about what the asking price for the house when we bought it in September. We paid about 7% over asking price. The new assistant is a full 35% higher than the 2021 assessment.
There is a service locally that will fight this for us. It's under $200. But has anyone ever done this themselves and been successful? How hard is it? What needs to be done? I have no clue about this but if it's just a few forms and explanation, I'd attempt it myself.
Center. I didn't even know they were doing it for Hamlet.Which township are you? I know the fire territory in Knox failed to pass but the one in the Hamlet area passed.
I don't think yours passed then so that isn't it. Davis was definitely included. We are in Washington so we missed it.Center. I didn't even know they were doing it for Hamlet.
I just looked and Knox's didn't pass. I only seen where Hamlet's was going to a vote and didn't see any updates anywhere. Now I'm curious why it went up.I don't think yours passed then so that isn't it. Davis was definitely included. We are in Washington so we missed it.
We are in a housing shortage, apparently others believe that housing is worth what they are paying for it and we all pay property taxes based off of what others pay, even if we made no changes. It is admirable you want to keep your rents low but you must come to terms with the current market or you are the one getting hurt…Some of my rentals went up to more than I could sell them for even in this inflated time.
Grabbed the page from assessor's office site and will start going thru the ones that are crazy high.
Problem is I used to use comps that my realtor would supply. I can't do that now as people are getting much more money than housing is worth. While I know this is what the assessments go off of it will hurt me and thus I will have to make an additional rent increase which will hurt my tenants.
This stinks for sure. I don't try and get full market value rents as I see them as too high. But with taxes, insurance, materials and now even labor for stuff I can't do it is forcing my hand.
My personal property went way up as well, and I haven't done anything to it in well over a year, besides mow the grass