property tax assessment
thisishishouse
13 years ago
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kudzu9
13 years agobrickeyee
13 years agoRelated Discussions
Property Taxes
Comments (13)Gary, your comment on the disparity in taxes is true for Prop 13 as well and is frequently raised as a deficiency in the program. But there's no free lunch and you can't have it both ways. Do you want people on fixed incomes to be taxed out of their homes whenever a real estate bubble causes home values to soar? Those who buy a new home know precisely what their tax burden will be when they purchase, and what it will be going forward. That's a tremendous benefit for those wanting financial stability in their lives. The same cannot be said for allowing property taxes to swing in the winds of changing property values. Prop 13 continues to be wildly popular with Californians. Sierra, you're right in pointing out that the state government has aggressively pursued finding other sources of taxes. But imagine if property taxes had not been curtailed by Prop 13 during the recent bubble. The state would have enacted even more new programs that they'd then be unwilling to shut down when property tax revenues declined and we'd have been in an even bigger mess (hard to imagine...but true). What the state needs is an ability to constrain the pace of spending to something close to the growth in (legal) population...but regrettably it ain't gonna happen....See MoreProperty Tax ? For Realtors
Comments (6)Yes, the school scores and school facilities were very similar so we really couldn't complain. The other school that was closed at the same time, however, had more of a problem in that their area's existing schools had much lower scores. Of course the parents were labeled as racist because they didn't want their kids to go to lower-performing schools that happened to be far away and difficult to get to. It was a mess for a long time with how the school district handled this which (I believe) is why I only have about 4 comparable sales to use....See MoreI think I've finally found it :)
Comments (2)I agree, it depends. In our current town, they target assessments at 1/3 the market value. Our last house, in a city 100 miles away, was assessed at $308K when we bought it for $350K. 2 years later the assessed value was up to $350K. We updated the entire thing, including adding on 500 sf of living space and 600 sf of deck, and the assessment only drifted up to $355K by the time we put it on the market 5 years after purchase (even though the additions were permitted and inspected, they were not used to change the assessment). We sold it for $490K 18 months ago, but the assessment has only gone up $10K. Since assessments and taxes lag, I'll have to see what happens with next year's taxes. But so far, no adjustment for the sales price....See MoreHas anyone filed for a property tax assessment appeal before?
Comments (9)I assume you already know the assessment rate used by your municipality, and the equivalent market value you are being taxed for. If you purchased your home recently, and haven't made improvements that jacked up its assessment value (e.g., by pulling permits), the purchase price will almost surely be used as the basis. It will also, in my experience, be very difficult to claim your house is worth LESS than what your paid for it recently. You would need to show how it had declined -- i.e., a development that eliminated your water view, elimination of a bathroom or bedroom, etc etc. If you have been in the home for a long time, you need to compare the market value they are using with comparable values in your area. A real estate agent is best for help in that....See Morespringlering
13 years agomcgoverntheory
4 years ago
jmm1837
4 years agolast modified: 4 years agomcgoverntheory
4 years agoremodeling1840
4 years agojmm1837
4 years agomcgoverntheory
4 years agolast modified: 4 years ago
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