Property Tax Vent!

[daughtersrus]

We just got a new assessment notice today for the property taxes on our home. I'm so sick of getting reassess every year! Last year was the quadrennial assessment and this one (like the ones in 05 and 06) were to bring us to the current market value. Of course with the reassessment, brings an increase in our taxes. This last one says that our market value has increased just over $40,000 over last year's. With the housing market as it is, I want someone to explain to me how this can possibly be. We only have 30 days to appeal this so I'll be calling on Monday as I'm sure most of neighbors will be. If this is accurate, our taxes will go up close to $1,000.00! Talk about a budget buster!

There are two repossessed homes on our block that are the same model as mine and both of them are on the market for $110,000 LESS than what the county says is our "fair market value".

 

[A Mickeyfan]

Good luck with your appeal! I tried that once, in fact, my entire condo complex in CT tried it and lost. Our values were way down and they were taxed on values that were at least $70-80K more that what they were worth.

I know now I am being taxed on a value that is higher than what it is worth, but not nothing near as bad as how it was in CT (I live in FL now). I am not even going to bother trying to fight it. Last year my taxes went up and the value of my home went down on the tax rolls. When I called and asked why, they could not explain it.. that was how it was... The millige rates went up I guess, yet that isn't what they actually said to me(sp).

I think there are many in this situation now with home prices falling and taxes rising....

 

[proteus]

Flush with cash my county spent their money every year and then some. Now with lower assessments they can't meet their budget. Solution? Why, of course, raise taxes. So now in these tough economic times we citizens get an increase in our property tax rates so the government revenue doesn't fall off. Nice. Now if we could only vote in raises for ourselves.

 

[DVC Sadie]

Flush with cash my county spent their money every year and then some. Now with lower assessments they can't meet their budget. Solution? Why, of course, raise taxes. So now in these tough economic times we citizens get an increase in our property tax rates so the government revenue doesn't fall off. Nice. Now if we could only vote in raises for ourselves.

You hit the nail on the head with your response.

 

[J3nn78]

I would appeal.

BTW $1000 taxes would be a dream. Our house is $10,000 annually. We have 4 acres. Our last place was a postage stamp. The building literally took up all the land space. THere was no yard, no grass, no nothing and the taxes when we moved were almost $5000. NJ sucks with taxes.

 

[LorieR]

I would appeal.

BTW $1000 taxes would be a dream. Our house is $10,000 annually. We have 4 acres. Our last place was a postage stamp. The building literally took up all the land space. THere was no yard, no grass, no nothing and the taxes when we moved were almost $5000. NJ sucks with taxes.

I believe the OP said her taxes would go UP close to $1,000!

 

[dcfromva]

Our assessment went down, but our taxes went up from what we paid last year. And, despite our taxes going up--they still have big budget shortfalls and they are going to have to make cuts to county services.

 

[bicker]

Flush with cash my county spent their money every year and then some. Now with lower assessments they can't meet their budget. Solution? Why, of course, raise taxes. So now in these tough economic times we citizens get an increase in our property tax rates so the government revenue doesn't fall off. Nice. Now if we could only vote in raises for ourselves.

Indeed, what is really needed in times like this is a healthy dose of reality. Municipalities need to wake up!!! Cut choir and band at the middle schools; cut interscholastic athletics at the high schools; cut story time at the public library; cut Friday night flicks on the common. Don't raise taxes in bad economic times! Lower expenses, don't raise taxes. All these services are great services, when we can afford them but when times are tough, do without them!

 

[parkers*momma]

I don't know where the OP lives but we faced the same thing. Here is what e found out and how we handled the situation.

First, we live in a very rural community in NW ohio yet they(county) hired someone from Cleveland(NE Ohio) to access our taxes. That is a totally different region and yes, in the Cleveland area, homes are worth more.

We hired a local realitor and had them appraise what our home was worth in this area. When we recieved the appraisal, we had it notorized, and then proceeded to take it to our county auditor.

It WORKED! Our taxes in the end where lower than they origially had been before the lastest increase.

It might be worth a shot to try this route.

Good Luck!

 

[minnie1928]

There are two repossessed homes on our block that are the same model as mine and both of them are on the market for $110,000 LESS than what the county says is our "fair market value".

We recently sold our home in PA and when I was interviewing for a RE agent I found out that the 2 of comparable homes in our neighborhood that were for sale (or had been recently) were repossessed homes. The simple fact that they were repossessed dropped their value by some percentage (20% I think). According to the realtor, repossessed homes have a lower value because the implication is that if they couldn't afford the mortgage then they probably couldn't afford to keep in it good, maintenanced condition.

FWIW, several years ago I fought our assessment. I had 2 other homes in my neighborhood that were the same model as mine, one was even larger (they added a bonus room) and their assessment was considerably lower than mine. Part of what helped me change my assessment was that I took my blueprints to show them true living space. The local assessment office measured total square footage based on the footprint on the lot and the number of livable floors. I had significant amount of rooms with cathedral ceilings which was not "livable space" on the 2nd floor. That is what reduced my assessment (not alot mind you). The fact that my neighbors were dramatically different from mine had absolutely no impact as far as the assessment office was concerned.

Good luck, it's an uphill battle.

 

[luvmy3]

At our last assessment we were assessed at full market value, it would have only brought our taxes up a few hundred dollars, not a real significant amount. I don't understand since our house hadn't been assessed in years and it originally it was 3 times less

Anyway, we were not happy with it so we appealed. We checked all the houses in our subdivision and found houses that were almost exactly the same as ours and submitted the info. Our assessment was dropped by $60,000. The increase in that we would pay in takes didn't change all that much by doing it but we were still happy.

 

[daughtersrus]

I would appeal.

BTW $1000 taxes would be a dream. Our house is $10,000 annually. .

If the tax rate stays what it is now, our taxes will go UP an additional $1,000.00

 

[daughtersrus]

I was up quite late last night looking at the county web site comparing the assessment values of other homes in our subdivision. It appears that everyone has been reassessed and we're all pretty comparable. The two homes that are in foreclosure and currently on the market have an assessment value of more than $100,000 more than the asking price for the homes.

I have printed out the appeal form. Based on that form, the only way that we can appeal is to comp out our home to 4 other homes in our area that are similar to ours and have SOLD. The problem is going to be to try and find this information (I know it's public record but it's not easy to find and they don't always post them in our paper) and that all of the homes in our subdivision haven't been selling. There are several homes that have been on the market for well over a year.

Just to clarify, we're in a western suburb of Chicago in Will County. My in-laws have pretty much the same home as mine but they are in Downers Grove (Du Page County). Their home is worth about $80,000 more than mine (because of location) but their taxes are about $1,800 less than what mine currently are. With this increase, my taxes will be almost double theirs.

Wish us luck!

 

[marrimouse]

Our assessment went down, but our taxes went up from what we paid last year. And, despite our taxes going up--they still have big budget shortfalls and they are going to have to make cuts to county services.

What I always fail to understand is why City and County Governments think that our money is theirs. Why instead of raising taxes actually CUT spending. Raising taxes never really works in the long term you drive people and businesses away. www.fairtax.org this would have EVERYONE pay a fair share.

 

[GoldenOldie]

... Of course with the reassessment, brings an increase in our taxes. This last one says that our market value has increased just over $40,000 over last year's. With the housing market as it is, I want someone to explain to me how this can possibly be...

The short answer is because the assessments are always based on the value as of January first of the last complete year of information. That would mean in most cases that the reassessed value you are seeing is based on the January 1, 2007 market, not on current 2008 values. Of course, your area could be even further behind and it may be based on 2006 or even 2005 values which would make it go up even more.

 

[semo233]

Cities and Counties also differ with the services they offer.

My in-laws live on one acre on the outer edge of a city. My FIL is always complaining about taxes. He receives the benefits of a paid fire dept, garbage & recycling pick up, etc. He pays about $6500 in taxes

We live 1/2 hour away in 2 acre zoning and have a volunteer fire dept, we pay pay for garbage and recycling pick up and pay over $8400 per year in house taxes alone.

 

[1PrincessMomma1]

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[czycropper]

OP - just go the County Clerk and they'll be able to show you how to research other property values in your town/area.

Good luck but it can be done and successfully - it's even happened here in high property tax NJ

You should be happy you don't live in NJ - I live in Somerset County and our taxes have increased about $5,000 in the last 6 years. Alot of it is the school taxes (actually it 66% of our property taxes) and NO I don't like the increase but I don't want them to cut any school funding since we have some of the best schools around and when I compare our schools with some of my friends that live in other states - I'm so glad to be here

 

[sameyeyam]

A few years ago I was in the same boat. There were almost identical houses on our street listed for less than what our new assessment was. So I called the assessor's office and complained. They had me write down the addresses of the other houses for sale and their listing prices, plus send along any other listings from the newspaper that I thought were applicable and they would take a look. It worked and they lowered the assesssed value down to about $10,000 below what the lowest listing was.

They did also send me a HUGE form to fill out to protest, I didn't have time to fill it out, but they still lowered it based on the listings that I sent them.

 

[lillygator]

what do you get for your taxes? Here they fund the schools, community hospital, fire houses, garbage and recycling, etc.....our property taxes went down this year due to the vote, but what happened for the hospital is that we lost $9 million from tax millage revenue and we had a rif of 130 people and positions.