We've launched the new forums! Read more here

House Value vs. Property Taxes.

Johneli

Johneli

New member
Joined
Jun 26, 2009
Messages
637
Reaction score
1
Location
South Florida
Handicap
10
My house value dropped this year and Friday I got my projected property tax bill. My taxes went up $600! They argued for and got a rate hike because they had been losing so much money on declining home values. Nothing like subsidizing and keeping afloat your local tax collector. Grrrrrrrrrrrr.
 
Tell me about it - around here, the average was a 70% increase. Houses on the water went up 400%. They lowered the mill rate, but not by much.
 
National average is supposed to be about one percent of property value. Not in the northeast. Before the crash, we were at about 1.25%. Now I'm sure it's over 1.5%.

I'm always amazed when I see real estate listings in parts of the country where property taxes on ginormous houses are $600 or something. What kind of schools must they have?
 
The state or town you are in must collect a certain amount of property tax to meet the unfunded liabilities they have. They will get there, even if it means increasing the % when assessments go down. As gov't gets bigger this will increase. NJ is one of the worst in the country, maybe you can look at what is paid up here and feel a bit better.:D
 
If you read the fine print in most of your county and city tax codes you will see regarding things like property tax, etc they can increase the tax rate even if property values have declined because they have a guarantee built in that they can generate revenues at least equal to what they brought in the previous year. In other words they never have to make cuts no matter what is happening in the economy. Government is always allowed to grow. Nice, accountable system. :banghead:
 
You guys are scaring me. Our property tax bill in 2008 was 25% higher than it was in 2007!
 
Pretty much the same here. Homes are worth less, while taxes are higher this year over last year. It's not hard to figure because government employees get COLA adjustments regardless of the economy. Different divisions of government get more money each year to fund what ever it is they are responsible for.

Just as an example. While working my way through school many years ago, I was a counter person at a local HVAC supply store. The Clark County Court House Maintenance workers would come in near the end of their fiscal year, and spend what ever money they had left in their operating account. They would would spend money on things they did not need which was usually high dollar tools. The reason they needed to deplete their maintenance account was so they could ask for more money for next years's cost. :banghead:
 
Mine went up $500 over last year. I was going to contest it, but my sister-in-law (who's an attorney in Palm Beach) told me to take the $15 petition fee and go buy a pizza with it. No chance of winning an appeal.
 
Neighborhood associations here hired lawyers, but it didn't do any good. A neighboring town was smarter - instead of arguing the assessment - they argued the mill rate should be lowered and won.
 
Diane is the mill rate the same thing as personal property tax?
 
Diane said:
Neighborhood associations here hired lawyers, but it didn't do any good. A neighboring town was smarter - instead of arguing the assessment - they argued the mill rate should be lowered and won.
Click to expand...

That was very smart, but doesn't that mean that the town had to forfeit BIG money because every homeowner got that reduction....right?
 
AHacker'sHacker said:
Diane is the mill rate the same thing as personal property tax?
Click to expand...

A mill is equal to $1.00 of tax for each $1,000 of assessment. It varies depending on what part of town you live in. Our mill rate went down by almost half when the new assessments were done. The mill rate for personal property is higher.
 
Johneli said:
My house value dropped this year and Friday I got my projected property tax bill. My taxes went up $600! They argued for and got a rate hike because they had been losing so much money on declining home values. Nothing like subsidizing and keeping afloat your local tax collector. Grrrrrrrrrrrr.
Click to expand...

I feel your pain....its a wonderful life..lol
 
JB - shouldn't this thread be merged with the one about Conspiracy Theories and Paranoia?:zrofl:
 
Which companies do y'all use to protest your property taxes?
 
TJRyska said:
Which companies do y'all use to protest your property taxes?
Click to expand...
Ours went through our local municipality and mortgage lender. We were able to fight ours a few years back and they kept them the same.
 
Never heard of such a thing?
 
TJRyska said:
Which companies do y'all use to protest your property taxes?
Click to expand...

Texas Tax Protest

Comprehensive property tax protest representation and advisory service for individual and institutional investors in Texas. Our expertise includes residential and commercial valuation, plus tax code implications for various zoned commercial property types.
www.texastaxprotest.com www.texastaxprotest.com


done it a couple years, wish we would have started sooner.
 
baylrballa said:

Texas Tax Protest

Comprehensive property tax protest representation and advisory service for individual and institutional investors in Texas. Our expertise includes residential and commercial valuation, plus tax code implications for various zoned commercial property types.
www.texastaxprotest.com www.texastaxprotest.com


done it a couple years, wish we would have started sooner.
Click to expand...
I protest them every single freaking year. It is such a frustrating process. I hired a company (Gill, Denson & Company) last year for the first time. They did well, but I am just curious who else folks are using. Thanks!
 
TJRyska said:
Which companies do y'all use to protest your property taxes?
Click to expand...
Usually when you get your trim notice, you can appeal the value through your county property appraiser or comptroller, I guess it’s called in some places?

You’ll need to provide comps of similar homes to yours and have a bit of justification as to why you feel your value is too elevated. I don’t think you need to really pay someone for this? That, or I need to pick up a side hustle somethin serious 😂
 
Generally you don’t unless it’s commercial, complicated or just don’t know how. Tax Reps and ambulance chasers look a lot alike.
 
MWard said:
Usually when you get your trim notice, you can appeal the value through your county property appraiser or comptroller, I guess it’s called in some places?

You’ll need to provide comps of similar homes to yours and have a bit of justification as to why you feel your value is too elevated. I don’t think you need to really pay someone for this? That, or I need to pick up a side hustle somethin serious 😂
Click to expand...
Oh you'd be surprised. I've been fighting them for years. My wife is a realtor and she runs the comps. The appraisal district uses a software that randomly picks homes. They once used a house that was double the square footage and the lot was twice as big as my house in calculating the value of my house. It is ridiculous and they basically tell you, if you are unhappy with it, sue us.
 
Bosco... said:
Generally you don’t unless it’s commercial, complicated or just don’t know how. Tax Reps and ambulance chasers look a lot alike.
Click to expand...
Oh I know how to do it. It's just a frustrating process year in and year out.
 
Pushed back often and last year was ridiculous! Pulled comps, sales, etc. Thanks but no thanks we like the increase as is BS response.
 
You must log in or register to reply here.
Back
Top