Yippee! Taxes Finished and Filed
11 years ago
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property tax assessment
Comments (12)In the county we live in, we were able to file a rebuttal on our assessment. We were then given an appointment to meet with the assessor downtown at the tax office & supply them with our reasons why the assessment was incorrect--photos/GIS map, location, appraisal from when we purchased the property (it was within 5 years from the date of the assessment), recent similar sales, access, busy road, large creek with flood plain that cut the entire property in half, etc. Approximately 6 weeks later, we received a letter from the assessor stating the new assessment at the amount we paid for the property (we bought it as a foreclosure so that was a sweet deal). Mom & Dad built their house 4 years ago. The tax assessor in their county started coming out to the building site every month or so about 3/4 of the way through the build to see what was going in. As Mom & Dad were acting as their own GC they were on site and told him he could stay outside but he had no business inside. Afterall, assessors don't go inside your house when they reassess every 10 years and take into account that you've upgraded your 30 year old house to granite & hardwoods from the original early 1980's linoleum & speckled formica. Too, with the current mortgage crisis and so many foreclosures and values falling, you may not want to let the assessor be privy to your costs & finishes upfront. You may want to wait and see what he values the house at first (without giving him a list of finishes / letting him inside the finished house if at all possible if you're going with some higher end finishes like hardwoods & granite). Then if he comes back with an unreasonable value, file a rebuttal. Just my 2 cents....See MoreTax credit extension for those trying to meet 6/30 deadline!
Comments (14)President Approves Extension Of Closing Deadline For Home Tax Credit by JACOB GAFFNEY Homebuyers will have an extra three months to qualify for the tax credit on transactions already under contract, with passage of an extension that also covers deals that just missed the June 30 deadline. In addition to first-time buyers, homeowners with at least five years in their current home are eligible for the credit on purchase of a new residence. See the following article from HousingWire for more on this. President Barack Obama this morning signed HR 5623, the "Homebuyers Assistance and Improvement Act of 2010," a three-month extension on the closing deadline for first-time home buyers to receive the tax credit. Potential homeowners with offers currently under contract now have until September 30 to close the deal, instead of the original June 30 deadline. The tax credit remains at a maximum $8,000. The Senate approved the bill late Wednesday evening, a day after it passed the House of Representatives. A copy of the HR 5623 can be downloaded here. The bill is worded to retroactively include properties that closed in the last two days. According to the Internal Revenue Service , besides providing a tax benefit to first-time homebuyers and purchasers who havenÂt owned homes in recent years, the law also allows a long-time resident of the same main home to claim the credit if they purchase a new principal residence. To qualify, eligible taxpayers must show that they lived in their old homes for a five-consecutive-year period during the eight-year period ending on the purchase date of the new home....See MoreRunning afoul of the TaxMan!
Comments (10)sounds like a drive by assessment. around here you can challenge the assessment anytime they do a new one. the county has me down as having 3 baths, when we only have 2, but correcting it would only mean maybe 20.00 difference in my tax per year. i ain't fighting it because they will see my shop is now finished off with AC instead of just a big storage shed, and raise it by 100.00 or more. BTW, my shop was done BEFORE permits were required in the county so they have no clue. i would go to the assessor's office and get them to come do a full walk thru assessment. you may have to pay what they billed you this year, but from now on out it should be correct. our office sits on 3 city lots. the first lot has the building, the second lot has the tower and a couple of sheds, the 3rd lot is just trees. we noticed a couple years ago that the city/county was sending us 2 tax bills. the first covered the building, lot 1 and lot 2. the second covered all 3 lots! they refused to credit us back for the 18 years we had been double paying, but they did fix it so tha tnow we pay correctly. at least it was only about 900.00 a year in double tax, in other areas of the country that could hav ebeen 30k or more per year!...See MoreDo you do your own taxes with tax software?
Comments (38)I have used HR Block on line for years..Think it cost 30 dollars or so and its a hand holding simple walk you thru it, read carefully and fill in the blanks. Its free to do it until you go to file and that is when you pay. I dont even have to enter our basic information anymore..Its all saved..of course it gives you the chance to change anything that might need to be changed..ie when our daughter got married and we could no longer claim her. Give it a try!...See More- 11 years ago
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