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.

 

[Patriotic Stabilist]

That was the estimate for Denton County, haven't received the others yet, those were taxes paid last year. One in Spring has separate county taxes, school taxes, and HOA fee of $300 a year.

I don't know why our personal house is so low and I'm sure not going to ask, would you?

 

[NorTracNY]

I'm just in shock... What's percentages of assessed value are we talking for these taxes! I'm fighting a 35% increase in assessment this year which would put my school and county taxes over 10K! So far we have it down to just a 20% increase.

 

[Bird]

I'm just in shock... What's percentages of assessed value are we talking for these taxes! I'm fighting a 35% increase in assessment this year which would put my school and county taxes over 10K! So far we have it down to just a 20% increase.

You can go to the Denton County Appraisal District website and download the entire list of the taxing units in the county and their tax rates for 2009; don't know what they'll be for 2010 yet. But basically, my property taxes for the last year, with an "over 65" homestead exemption and frozen school taxes, was about 1.75% of the appraised value of he property.

 

[Patriotic Stabilist]

Actually property taxes in Texas are very high. But we have an older home and houses, not $300k or $400k mcmansions built 2 years ago, so ours are much lower. Our houses were built around 1977 and 1983, so big difference there. The small 1200 sq ft house in Spring runs more like $1800 total, with HOA taxes, school, and county. It is only appraised around $60k now. It was $70 or $80k but with the drop in house prices they have lowered the rate twice, and I bought it for $38k as a foreclosure but it had another $30k put in it for repairs.

 

[Green Acres Homestead]

For years there's been a call for property tax reform in Indiana. A year or two ago they finally passed a 1% property tax cap (for individuals, I think business is capped at 2%). This was hailed as a great step in property tax reform and all the politicians patted themselves on the back.

Anyone with half a brain knew what was coming though, as they sure didn't cut any programs to offset the loss in revenue. The 1% cap did nothing to address assessments.

In that spirit, the assessed value of my 10 acres went up by 85% over the past year. I'm pretty well read in current events, better than the average American I'd guess, and I don't recall hearing ANYTHING about a major resurgance in real estate values in 2009/2010.

I was pretty upset until I talked to my dad. His 30+ acres that adjoins our 10 acres went up almost 1200%!

We're both planning to contest this assessment, anyone have any advice in this area?

Some say the rich are sitting with billions and waiting for everything to collapse so they can buy up the property on pennies on the dollar. People have to stick together and march down to the office in protest. Here in Canada it's the same story. If we don't stand up for our rights and stop supporting big bussiness what mess will our children be in.

 

[MossRoad]

9 year old thread you're replying to.... just an FYI.

 

[ultrarunner]

Yep... I just filed my appeal... now it can take 2+ years for determination...

Many don't understand the power the Assessor has... I bought my home with appraisal and estate review with inspections...

Assessor who admits to never visiting the property claiming it is simply not possible assigned a value 49% higher than I paid... and this is California the land of the "Low" property tax...

 

[Larry Caldwell]

Do most states not have ag and timber deferral? In Oregon, agricultural land and timber land only pays 10% of the assessed tax bill. All you have to do is keep your land in production.

 

[polo1665]

Do most states not have ag and timber deferral? In Oregon, agricultural land and timber land only pays 10% of the assessed tax bill. All you have to do is keep your land in production.

Boy that would be a sweet deal. You get a deferral in Ohio as well, but not anything near what you get in Oregon.

 

[Diggin It]

9 year old thread you're replying to.... just an FYI.

Not sure why people do that. Probably searching for something and these pop up as a 'similar thread' below. There are Mods available in Forum software packages to alert that you're seeing an older thread and ask if you really want to update it.


But I'll play .... my total property tax is under $400/year. Life in a rural county.