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Old 11-16-2007, 12:24 PM   #1
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Property Taxes

Briefly saw something on the News re Property Taxes, but didn't have a chance to write down the link. Have checked with realtors & know the value of my property has dropped (as the market has changed). There is a form you can fill out to have your property reassessed? by the County, & perhaps get a break on your prop taxes. It's a little confusing as the News mentioned something about homes bought in approx the last year. If you are a homeowner, I think it's worth checking out -- go to county tax accessor? If anyone has a link, please share.

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Old 11-16-2007, 12:42 PM   #2
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Ugh. Haven't heard of that. I thought you were not supposed to offer the town to reassess your property. Mine keep going up. My town in the past few years has had a few HUGE corporations build corporate offices here. I thought mine were supposed to go down.

And to top it off, I got a $53 dollar ticket for having garbage bags at the curb.

(sorry, I feel better now)
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Old 11-16-2007, 12:45 PM   #3
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In general you can't get your property reassessed for real estate market reasons.

But it's up to the taxing jurisdiction to make those rules.
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Old 11-16-2007, 12:50 PM   #4
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Try checking out the website for the news channel you watched to see if they have a link or call them.
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Old 11-16-2007, 12:57 PM   #5
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Thanks guys. What puzzles me is - the market value of my property, and perhaps all over the country has gone waaay down; yet my property taxes remain high/the same.

Amber wish I would have written down the link abc news? gave. Doesn't hurt to check out county tax collector's site, if they have one. The form, as I understand it (for the Tax collector to review) is very short. Re the News - so far they have 600 applications for review.
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Old 11-16-2007, 01:06 PM   #6
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Quote:
Originally Posted by *amy* View Post
Thanks guys. What puzzles me is - the market value of my property, and perhaps all over the country has gone waaay down; yet my property taxes remain high/the same.

Amber wish I would have written down the link abc news? gave. Doesn't hurt to check out county tax collector's site, if they have one. The form, as I understand it (for the Tax collector to review) is very short. Re the News - so far they have 600 applications for review.
As far as I can tell, a home's market value and assessed value (by the taxing authority) have little to do with each other, except maybe right after a home is sold. Even with the drop in prices, I think we could get at least twice what our home is assessed for - we've been in it for 15 years and have made a lot of improvements, but city reps haven't been inside since we bought it.
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Old 11-16-2007, 01:37 PM   #7
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My taxes & assessment shot up bigtime this year (we have 21 acres with an older home we're fixing up, & property we've already improved with a barn & 4-board oak fencing). And regardless of the housing market, farms & large tracts of property around here don't seem to have much trouble selling. We're seeing a large influx of folks who work in Wash. DC & the DC suburbs who want the "country life" moving out here into the "McMansion" developments. Way too sad. They all seem to hate livestock, feel they can trespass & hunt anywhere they like, & think that just because they're in the "country", they can let their dogs run loose/wild & that those of us who complain are just rural country bumpkins. I can't tell you how many times I've set that mindset straight in a BIG hurry.

In fact, I received a letter the other day from some guy - not a real estate agent - asking me if my land or the mature timber on it were for sale. Said he looked up my property at the county records office & was interested in buying it. Hello? I phoned him & thanked him for his interest, but that we were definitely not interested in selling our property or our mature trees - lol!

I also get frequent flyers in my mailbox from all the local real estate people. With large farms getting bought up right & left around me, I guess everyone is looking to get in on the action. I ain't budging - lol!!!
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Old 11-16-2007, 01:44 PM   #8
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State laws must vary. Our assessed values are kept near market value. We have a right to protest the appraisals which are the basis of our property taxes. Our protests are made to the County Appraisal District. Guidelines are furnished to the taxpayer.

I have protested twice successfully.

Suggest you call your county tax assessor. They should be able to point you in the right direction.

Finally, at least here, one's tax appraisal doesn't necessarily lower or increase the sales value of your home.
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Old 11-16-2007, 02:15 PM   #9
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The town I live in, the assesed values are 1/2 to 1/3 the market value. Last year, the town I work in reassessed after something like 15-20 years. Needless to say, ALOT of people have moved out and homes are for sale all over. The killer are the school taxes. Something like 60% of my property taxes goes to the schools.


And I don't have any kids.
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Old 11-16-2007, 02:20 PM   #10
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Even if the value of your property drops the money

that your minicipality needs to function stays the same so your property taxes won't drop until less money is needed by your local govt. And when does that ever happen. About the only thing that the assessments do it try to equitably distribute the tax payments among residents. The higher valued properties will pay more that the lesser valued ones.
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