Good news?

[magster65]

Our property assessments just came in yesterday. I bought my place in late '95 for $184000 and this years assessment says $399000. They also said that they're all undervalued by 15% to stop everyone from disputing the 'taxable' amount. I could never buy a place here now.<br />Good news right? Nope. This is going to cost in the $3000+ range for property taxes this year. I originally moved here because it was affordable yet nice but it isn't like that now. Some of my neighbors are going to be hit hard with this bill and end up with it on their credit cards... I can see it coming.<br />I'm not rich either... money's getting tighter all the time... I hope this housing boom ends soon. Making all this equity is killing us!

 

[Reel Poor]

Re: Good news?

Originally posted by magster65:<br /> Our property assessments just came in yesterday. I bought my place in late '95 for $184000 and this years assessment says $399000. They also said that they're all undervalued by 15% to stop everyone from disputing the 'taxable' amount. I could never buy a place here now.

Man thats been a good investment then 200,000+.<br /><br />

<br />Good news right? Nope. This is going to cost in the $3000+ range for property taxes this year. I originally moved here because it was affordable yet nice but it isn't like that now. Some of my neighbors are going to be hit hard with this bill and end up with it on their credit cards... I can see it coming.<br />I'm not rich either... money's getting tighter all the time... I hope this housing boom ends soon. Making all this equity is killing us!

And the taxman taketh away.

 

[roscoe]

Re: Good news?

They could value your home at $800,000 , and the taxes should stay the same.<br /><br />Its all the spending being done by the taxing authorities that is creating the increase on the tax bill.

 

[magster65]

Re: Good news?

Exactly! They call it the 'Mill rate'... which is the factor to which they multiply your assessment by to calculate the property tax. In theory the Mill rate should go down because the cost of 'operating' the municipality doesn't ride the housing market prices. A construction 'boom' actually increases the tax base (# of taxable properties) so in theory it should go down even more and we should pay even less.<br />True but not bloody likely!!

 

[Boomyal]

Re: Good news?

Originally posted by roscoe:<br /> They could value your home at $800,000 , and the taxes should stay the same.<br /><br />Its all the spending being done by the taxing authorities that is creating the increase on the tax bill.

You hit the nail on the head roscoe. For the life of me I cannot understand why the public allows their governments to rob them, year after year with these horrific increases in property tax charges.<br /><br />All across the nation, property tax inititives, that would limit the amount of annual increase fail to pass. One big exception was California's Prop 13 in the late '70's. It is still reviled today.

 

[dogsdad]

Re: Good news?

Maybe if taxes weren't actually handled by the mortgage companies and our employers, and people had to acvtually whip out the checkbooks and write a check to pay their taxes, they would then see what's going on. Because there are so many unconcious taxpayers out there, the taxing authorities get away with rape.

 

[KaGee]

Re: Good news?

Quit your whining... you're a rich white honkie... that's why you're here! <br /><br />Yep a loop hole all the greedy politcos are jumping on. They can't raise the tax percentage and get away with it, but they can sure guesstimate what your property is worth.

 

[Navigator]

Re: Good news?

Down here its really out of control. If a property is homesteaded, its rates can only go up 3% per year, unless any renovation is done, at which, they are allowed to reassess the property. We have a classic example in our neighborhood where a 4k sq ft home built and moved in in 1988 is paying around 2k in taxes every year. The house next door, just finished this year is only 3900 sqft, but the taxes are starting at rought $9400 per year. Smaller house, 3 times the tax rate. Its totally unjustified and out of control.<br /><br />Nav

 

[jtexas]

Re: Good news?

Originally posted by dogsdad:<br /> Maybe if taxes weren't actually handled by the mortgage companies and our employers, and people had to acvtually whip out the checkbooks and write a check to pay their taxes, they would then see what's going on. Because there are so many unconcious taxpayers out there, the taxing authorities get away with rape.

Bingo. Even though you get your rendition and your escrow payment changes, lotsa folks only grumble about the monthly increase. I have to write a check every year and I hate it.<br /><br />Magster I wish I had your problem, I'd liquidate that equity & move to a more affordable neighborhood! My house value is about half yours but my prop taxes are a little over $4,000. Almost makes you wish for an income tax! I've been before the appraisal board once & got 'em knocked down by about 20%, but you have to stay on top of it.

 

[magster65]

Re: Good news?

Originally posted by jtexas:<br /> Magster I wish I had your problem, I'd liquidate that equity & move to a more affordable neighborhood! My house value is about half yours but my prop taxes are a little over $4,000. Almost makes you wish for an income tax! I've been before the appraisal board once & got 'em knocked down by about 20%, but you have to stay on top of it.

To move to a more affordable neighborhood would be an hour drive from here. Where I am now I'm 5 minutes from work, the same to mom's or sis's place and I have a great daycare nearby as well. I'll move when the time is right but I don't think it's now.