Property Taxes

[archerm3]

As pres of our owners association, a few years back, I got a call from an irate owner.
He purchased a property for $50K that was evaluated for taxes at $25K.
He wanted me to interfere and get his taxes lowered.

My response was rather negative as I told him that the evaluations were based on selling history in the area and that thanks to him the city would start considering that all similar properties would then be worth 50% more than they had evaluated.

That is exactly what then occured the next year, not exactly his 50% ratio, but a considerable raise however.

Funny but one sale like the above example causes increases, but if 10 sell below evaluation, taxes don't come down.
But then for those that can remember that far back, taxes were only a wartime tempory measure to pay off WW2 costs.

That's not a 50% raise, that's 100%. 50% would have been 37.5 K

 

[txdon]

That's not a 50% raise, that's 100%. 50% would have been 37.5 K

You're right, however, if it went the other way 50K to 25K it would have been a 50% drop.:confused2:

 

[archerm3]

You're right, however, if it went the other way 50K to 25K it would have been a 50% drop.:confused2:

You are correct sir.

Math is good.

 

[MJ's Design guide]

Re: Property taxes. For years I appealed taxes as a matter of course but this past year took a strange twist. One property was appraised for sale at 49,000 with a buyer at 50,000, and the government that said it was worth 70,000. It had been rental, and the government did nothing to adjust.
The other my personal residence had a complicated storm drain issue, in that my driveway had been built over the storm drain, and all supported by a wood retaining wall interfering with the public neighborhood storm drain, and the wall visible and accessible only from the neighbors lot. When I appealed the taxes, I got the appraisor to advocate for me, that this had been a complicated city,county, water sewer authority mess, and the lot was reduced to zero, and that amount taken off of the taxes.
While I have no doubt your situation is different, bring with you to the highest appeal board, written evidence showing what neighboring properties have sold for in the neighborhood.
I might also bring with me, articles in the paper showing property value declines
but mostly I would try to get the appraiser on your side, so that when you appeal you have him in your court.
good luck. The comment that you can't fight city hall, didn't come out of thin air!

 

[mjarrels]

Just got mine about 3 days ago. $1020.90 for two homes, two garages, smoke house, large machine shed and large bank barn. All on about 6.25 acres. I'm happy. Yep, up about $60.00 from last ten years but could have been much worse. Thats for six months.

mark

 

[DUMBDOG]

My Florida home has dropped 25% in assessed value the last two years, but the way the market down there is it still would not sell at the assessed value, or at anything near that with all of the foreclosures and short sales.

 

[Patriotic Stabilist]

We only have had one increase, we bought in 1992 as a foreclosure, fixer upper, doubled the apprasisal in 1994. That's it. All our upgrades, buildings added were done before permits were needed in the county. Now its different.

We likely will have to get one for a another garage, but possibly not, I think only if it has a bathroom in it.

Our taxes were $717 this year, they have been going down the last 3 years, not sure why, I suppose all the new houses that were built in the county.

Even our rent houses are much more, $1600 and $1800. Up in Denton County we have a 1/3 acre mobile home lot that is almost $600 a year. In Indiana a little 25 acre farm that is $600. What a huge disparity in values and taxes.

We had thought about building new or buying newer, hubby said this will be affordable in retirement, so we just have added to and redone the place and likely this is where we will stay and low property taxes is one of the reasons, hope they stay that way.

 

[tulenutn2o]

Just got mine about 3 days ago. $1020.90 for two homes, two garages, smoke house, large machine shed and large bank barn. All on about 6.25 acres. I'm happy. Yep, up about $60.00 from last ten years but could have been much worse. Thats for six months.

mark

Ah, yes ....the frog in the kettle scenario.
A little at a time.

 

[ultrarunner]

From the look of things... it appears West Coast Property Tax is not inexpensive by any measure...

I'm envious of some of the figures I'm reading... especially for a 25 acre farm!

 

[Bird]

From the look of things... it appears West Coast Property Tax is not inexpensive by any measure...

I'm envious of some of the figures I'm reading... especially for a 25 acre farm!

So am I. My taxes on 10 acres out of town was less than half what I now pay in the city. But I also wonder about the dollar amounts being given. In Texas, we just (this month) got the new appraisal notices showing the "preliminary" appraised value. Whether we contest it and get it changed or not, we won't really know how much our taxes are going to be until mid to late September because that's when the taxing jurisdictions set their tax rates for the new fiscal year that starts October 1.