holey moley CANNOLI man. I got my 2010 town tax bill in the mail today. The town appraised my house at close to 700 THOUSAND DOLLARS!!!
Now mind you, this is a house built in the 1940s and although we work on it constantly, theres always more that needs to be done, its a real handyman house. Its also TINY. 3 bedrooms, no formal dining room, all one level, just one full bath and one hlaf bath.
We are paying taxes based on the assessed value of our house. If we could get anywhere NEAR 700 thousand (!!!) for it then it would be on the market tomorrow.
The thing is…it would be able to sell for about HALF that. So we have to file a tax grievance and possibly get our assessed value down to a reasonable amount and guess what…it would lower our monthly bills by 2 to 5 HUNDRED DOLLARS!!!
Gotta keep a very close eye on the government man. I’m sharing this so that you people can look into this too
yup, you have to keep an eye on the valuation, they cant have happy days and assess them hgh when market was on the up and up and now with the downturn assessed values are still going up..errr...like how does that math work stan...:)
keep em on their toes, how long does it take for such grievances to be acted upon in your neck o the woods?
You can request a reassessment. If there is such a difference, as you say, you may be able to get it reduced. If it is close to the market value - be careful because they might revalue it upwards!
My assessment actually has gone down the past two years.
Look at the bright side ... you can tell your (not so close) mates that you live in an expensive house ... by presenting this as evidence ... and when you get home you can have a go at the government. Hehehe
Reassessment is a must. I remember back in the day where homeowner saw the climbing house values as a point of pride, now everyone has a different tune.
My condo was reassessed and my tax bills are trending downwards. My reassessment process was simple: I have my good friend/lawyer on retainer so called him up, and he was able to get things done for me.