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Old 06-19-2016, 07:54 AM
 
4,029 posts, read 2,102,672 times
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In reading (okay, let's be honest, scanning since it's not so interesting anymore) the AJC, I saw an article about rising DeKalb property taxes:

Metro Atlanta tax assessments jump, giving residents a jolt | www.myajc.com

It surprised me that homeowners, such as these in Brookhaven, are so upset about a 10% jump. Maybe it's just because everything in my life seems to rise 10% a year (even more so with health insurance), it seemed like a given since home prices have risen>

"According to the county assessor’s office, the value of their Brookhaven home rose 10 percent from last year to $318,300, though they’ve made no improvements and don’t think that’s what the market will bear. Now they’re worried about the property tax bill that will come this fall.
“It’s unfair,” Gina Schwartz complained at a recent meeting that detailed how to appeal assessments. “Why are we paying bigger taxes when nothing changed? That’s a big jump. I don’t want to pay more money.” "


This got me to wondering if DeKalb, which (to put it delicately) has been known for having money issues, is just doing an unwarranted money grab. But then I remembered that home prices, especially when they have been depressed, DO rise, even if "nothing has changed"---no improvements. And if I were going to a meeting to complain, I would come armed with proof that the market wouldn't bear my home being sold at $318,000. Just saying it's unfair and you "don't think" the market will bear that and you don't want to pay more taxes doesn't seem sufficient.


So I Googled (yup, had some time on my hands this morning!) where this couple lives and looked up some real estate sites. Seems like they think this home could fetch even more money than $318,000 and that its value has gone up 11%. Real estate generally in the area seems to have gone up 6 to 14%.


No one likes paying taxes, but is it so unreasonable that they would go up as home prices rise? (I do feel sorry for people who bought many years ago and live in a home which wouldn't be valued high, except that the land values shoot it up---some of them may be taxed out of their home.)


Your thoughts?

Last edited by jazzcat22; 06-19-2016 at 08:20 AM..
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Old 06-19-2016, 08:18 AM
bu2
 
23,916 posts, read 14,714,237 times
Reputation: 12715
Quote:
Originally Posted by jazzcat22 View Post
In reading (okay, let's be honest, scanning since it's not so interesting anymore) the AJC, I saw an article about rising DeKalb property taxes:

Metro Atlanta tax assessments jump, giving residents a jolt | www.myajc.com

It surprised me that homeowners, such as these in Brookhaven, are so upset about a 10% jump. Maybe it's just because everything in my life seems to rise 10% a year (even more so with health insurance), it seemed like a given since home prices have risen>

"According to the county assessor’s office, the value of their Brookhaven home rose 10 percent from last year to $318,300, though they’ve made no improvements and don’t think that’s what the market will bear. Now they’re worried about the property tax bill that will come this fall.
“It’s unfair,” Gina Schwartz complained at a recent meeting that detailed how to appeal assessments. “Why are we paying bigger taxes when nothing changed? That’s a big jump. I don’t want to pay more money.” "


This got me to wondering if DeKalb, which (to put it delicately) has been known for having money issues, is just doing an unwarranted money grab. But then I remembered that home prices, especially when they have been depressed, DO rise, even if "nothing has changed"---no improvements. And if I were going to a meeting to complain, I would come armed with proof that the market wouldn't bear my home being sold at $318,000. Just saying it's unfair and you "don't think" the market will bear that and you don't want to pay more taxes doesn't seem sufficient.


So I Googled (yup, had some time on my hands this morning!) where this couple lives and looked up some real estate sites. Seems like they think this home could fetch even more money than $318,000 and that its value has gone up 11%. Real estate generally in the area seems to have gone up 6 to 14%.


No one likes paying taxes, but is it so unreasonable that they would go as home prices rise? (I do feel sorry for people who bought many years ago and live in a home which wouldn't be valued high, except that the land values shoot it up---some of them may be taxed out of their home.)


Your thoughts?
In the last two years, they have done some ridiculous increases. Don't know if they are being reasonable this year.
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Old 06-19-2016, 10:15 AM
 
4,411 posts, read 3,436,560 times
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Property values have been rising for at least 3 years.

It's an awakening for folks who buy a home thinking that their housing costs at a fixed rate will remain at $X forever. Our mortgage payment is now about $500 more per month than it was when we originated the mortgage. I am not bitching about it -- I understand that costs of public infrastructure goes up -- but I do have to wonder what I'm getting for my money.
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Old 06-19-2016, 07:48 PM
 
Location: Atlanta
5,618 posts, read 5,900,555 times
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Quote:
Originally Posted by wasel View Post
Property values have been rising for at least 3 years.

It's an awakening for folks who buy a home thinking that their housing costs at a fixed rate will remain at $X forever. Our mortgage payment is now about $500 more per month than it was when we originated the mortgage. I am not bitching about it -- I understand that costs of public infrastructure goes up -- but I do have to wonder what I'm getting for my money.
My parents' mortgage payment is going up as well. I suppose it's better than losing home value but it's a tough pill to swallow before you can even sell and cash in.

Now for questionable practices, I know my family was talking a few years back about Hart County suddenly raising appraised property values but seemingly only for properties on Lake Hartwell. They thought that the county figured out that they had so many non full time residents on the lake that they could raise values and cash in. I'm not sure what ever happened from that.
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Old 06-19-2016, 09:04 PM
 
1,708 posts, read 3,410,769 times
Reputation: 1338
I did a piece for Channel 2 about 3-4 yrs ago about my 87% increase year over year in Brookhaven.

The tax commisioner did an interview at his desk. His screen saver was a life sized image of his own face.

Whats amazing is that I did a PMI removal appraisal at my house and it came in 15-20% short. Wells Fargo and their then captive appraisal outfit, Rels Valuation, really pulled off a piece of work.
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Old 06-19-2016, 09:13 PM
 
Location: Jupiter, FL
2,006 posts, read 3,303,032 times
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Quote:
Originally Posted by sedimenjerry View Post
My parents' mortgage payment is going up as well.
A mortgage payment fluctuating with real estate values? I've never heard of that.
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Old 06-20-2016, 06:09 AM
 
2,167 posts, read 2,819,911 times
Reputation: 1513
Quote:
Originally Posted by roadtrip75 View Post
A mortgage payment fluctuating with real estate values? I've never heard of that.
A lot of folks have taxes escrowed and are making one combined payment for taxes/mortgage. So while the "mortgage payment" hasn't technically gone up, the monthly payment you make to the lender has.

This is also far from a "dekalb issue". As the article states, property values are up ~10% in 4 of the 5 largest metro counties. All that economic prosperity and development that has been going on the last few years is being reflected in the tax digest.
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Old 06-20-2016, 09:37 AM
bu2
 
23,916 posts, read 14,714,237 times
Reputation: 12715
Quote:
Originally Posted by ATL Golfer View Post
I did a piece for Channel 2 about 3-4 yrs ago about my 87% increase year over year in Brookhaven.

The tax commisioner did an interview at his desk. His screen saver was a life sized image of his own face.

Whats amazing is that I did a PMI removal appraisal at my house and it came in 15-20% short. Wells Fargo and their then captive appraisal outfit, Rels Valuation, really pulled off a piece of work.
Mine went up nearly 60% two years ago, but half of that got knocked off. Lots of people had ridiculous increases that year.
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Old 06-20-2016, 11:58 AM
 
Location: Atlanta
5,618 posts, read 5,900,555 times
Reputation: 4875
Quote:
Originally Posted by red92s View Post
A lot of folks have taxes escrowed and are making one combined payment for taxes/mortgage. So while the "mortgage payment" hasn't technically gone up, the monthly payment you make to the lender has.
I definitely don't know the details but this is probably what happened.
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