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Posted: 3/15/2011 10:33:23 AM EDT
According to what it is now it is only worth 70K less than I paid for it!
Progress.    
2 more jumps like that and I will be able to sell. |
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Posted: 3/15/2011 10:35:21 AM EDT
[#1]
and you only thought you were done renting.
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Posted: 3/15/2011 11:23:04 AM EDT
[#2]
Same boat here. Went up this year, but it's still way below what I bought at.
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Posted: 3/15/2011 11:24:37 AM EDT
[#3]
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Posted: 3/15/2011 11:26:28 AM EDT
[#4]
House appraisal for taxes this year was 60,000 more than we paid for it
House appraisal for refinance was less than we owe... Gotta love it |
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Posted: 3/15/2011 11:29:11 AM EDT
[#5]
The game that my locality plays is the annual setting of the rates. Assessments don't mean a whole lot when they just vary the rate to get their desired revenue.
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Posted: 3/15/2011 11:30:26 AM EDT
[#6]
The county has to make up for lower tax revenues somehow. Homeowners are an easy target.
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Posted: 3/15/2011 11:32:27 AM EDT
[#7]
first rule of sales, it's only worth what someone is willing to pay for it.
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Posted: 3/15/2011 11:32:40 AM EDT
[#8]
We just got a check for one of our restaurants that we appealed our property tax on.
We got them reduced from about 32k to 28k. It was about a two year process because of the backlog. |
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Posted: 3/15/2011 11:34:35 AM EDT
[#9]
Ours are still going down.
Substantially
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Posted: 3/15/2011 11:35:12 AM EDT
[#10]
The wife and I were talking about this the other day, since they say our house's are worth 60% less than they use to be ......seems fare we pay 60% less in taxs.......
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Posted: 3/15/2011 11:42:45 AM EDT
[#11]
Bad news Sparky. The assessed value has nothing to do with your ability to sell in MANY markets.
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Posted: 3/15/2011 11:49:12 AM EDT
[#12]
On the other hand, I am looking to buy.
I have an offer out on a house, It has dropped 30% in the past 3 years according the the tax assessment. I still only offered about 85% of the asking price, which is less then the tax assessment. It is a short sale, we should know this week if the bank accepts our offer. If they do, we will buy the house at 59% of the assessed value in 2008. |
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Posted: 3/15/2011 12:10:50 PM EDT
[#13]
Around here the appraisal goes down, the taxes go up.
it's fuckin magnets. |
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Posted: 3/15/2011 12:13:10 PM EDT
[#14]
My house dropped another $10k. But for some reason my tax assesment went up. How the hell does that work again?
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Posted: 3/15/2011 12:17:02 PM EDT
[#15]
I protested my assessment each year for 3 years.
Each time they knocked it down by a good 10% as a result of my appeal. I'm saving better than $1000 per year on property taxes as a result. 
Most people I know who have went before the county board to protest their assessment came out with some kind of reduction. I don't see why everyone wouldn't at least give it a go every few years. It's a good way to lock in some tax savings for the future. |
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Posted: 3/15/2011 12:19:45 PM EDT
[#16]
way things still are in major markets, you ought to appeal that sucker, instead of seemingly being glad that you are getting gouged for more property taxes. 'upside down' doesn't mean shit if you were planning to stay in the home for a number of years anyway.
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Posted: 3/15/2011 12:33:17 PM EDT
[#17]
mine is about even for what I have into it with the recently finished basement.
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