Bird
Rest in Peace
Yep, David, you're lucky. With my little cheap house (currently appraised at $118,000) and with an "over 65 homestead exemption", my property taxes for 2008 were $2,047.19.
Higher tax assessment?
- Thread starter Richard
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2manyrocks
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I used to live in a city where they would adjust the tax base every few years to "equalize" taxes and in the years in between, they would raise the rate. What it meant to me in effect was that they pretty much raised my taxes about every year. I moved out and cut my taxes by 2/3.
This January, I asked a friend of mine who is a conservative property appraiser to value some rural farm land in Middle Tennessee. He refused and wouldn't even give me a verbal range of general value per acre. So I asked him what was up. His response was that there weren't any true comparable sales to go by because the sales around here had been involuntary foreclosures and not arms length willing buyer willing seller transactions. He also said the market was such that it was not possible to predict which way it was headed. He ended up saying I could look for comparable sales and try to figure it myself.
In the present market, you may not be able to sell your real estate for what you think it is worth, but they aren't going to give you any discounts on your property taxes.
This January, I asked a friend of mine who is a conservative property appraiser to value some rural farm land in Middle Tennessee. He refused and wouldn't even give me a verbal range of general value per acre. So I asked him what was up. His response was that there weren't any true comparable sales to go by because the sales around here had been involuntary foreclosures and not arms length willing buyer willing seller transactions. He also said the market was such that it was not possible to predict which way it was headed. He ended up saying I could look for comparable sales and try to figure it myself.
In the present market, you may not be able to sell your real estate for what you think it is worth, but they aren't going to give you any discounts on your property taxes.
MossRoad
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I get that rate because it is undeveloped farm land. We have a farm # and the crop is timber.
Now, if we would put a house on it.... ZOOMMM! up the taxes would go.The house we live in is on one+ acre and is pushing 90 years old. Older neighborhood, house values range from 20K to 100K. Taxes on ours would be about $1200.00 but we have a homestead exemption because we have a mortgage (a home equity loan counts as a mortgage) that we use to improve the house and pay interest on. So, the taxes are about $600.00 per year on the house.
People should stop voting yes on all taxes then.
I also believe you should pay taxes on the amount it takes for the county/city to service you, not on the value on the house/property.
If you have 10 children in school, guess what, you should pay 10 times the tax of your neighbour who has 1 child. Its fair.
I also believe you should pay taxes on the amount it takes for the county/city to service you, not on the value on the house/property.
If you have 10 children in school, guess what, you should pay 10 times the tax of your neighbour who has 1 child. Its fair.
ultrarunner
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I started a thread a while back when my assessment went up around 70% and the taxes about a 1/3 in one year. I was never able to make headway with the assessor and came away feeling as if I just wasted a lot of time and effort for nothing.
Started looking into opening a tax exempt foundation of some kind... If I can't beat em... join em?
Started looking into opening a tax exempt foundation of some kind... If I can't beat em... join em?
2manyrocks
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I remember reading that the cost of building permits, inspections, etc. in the State of Washington added thousands of dollars in costs to home prices, and contributed to making housing unaffordable for some people. First, the local government piles on the fees to build a house, and then they pile on the taxes once it's built.
JDGREEN4ME
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dooleysm
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So when I retire and my 10 children all have jobs, do I get to recieve 10 times as much social security as my neighbor with 1 child? Do I get 10 times the medicare benefits?
MossRoad
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Become the Reverend Ultrarunner and start a shelter for unemployed tractor owners.
MarkV
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Richard, getting back to opinions on your situation. If it were me I would keep my mouth shut and except the 12% increase. You have just done an addition to your house and though small, it and finishing the basement has added square footage that is living space. Here the value of your house is going to be based on square footage that is living space and it does not sound like the appraiser office has gotten wind of your changes yet, even though you are permitted. I am not sure I would want to make enough noise for them to take an special look at my individual place.
MarkV
MarkV