U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-28-2012, 09:10 PM
 
5,150 posts, read 6,628,016 times
Reputation: 1438

Advertisements

I'm curious to know what you mean by "Reassessment". Did the county change your property value since you moved in or is this "reassessment" your definition of a value that differs from what you expected?

Taxes are public records. Unless Union county is doing a re-evaluation like they did last year here in Mecklenburg, there was no "reassessment".

It's unfathomable to me that the mortgage company at least didn't know what the taxes were when it came to qualifying you for the loan. A surprise $200 extra per month could push some people out of budget and lead to serious problems. I'm surprised this wasn't disclosed on a HUD statement.

If however it was a true reval, the #1 way this is done (though I'm not sure on Union) is through comps. It doesn't matter what you paid, it matters what your neighbors paid according to the schedule of values published by the county.

According to the following article, there isn't a reval this year: County says no to tax reval | Union County Weekly

It looks like they are using the 2008 schedule of values which they must BY LAW. It may be terribly unfair with the recession and all but there isn't anything you can do about it unless you can prove that comps from 2008 are not comparable to your house in 2008 (it doesn't matter when it was built, it has similar characteristics as comps that did exist).

Tax Administration

Either way, you should have known what your tax burden was going to be. I'm sorry if you were misled.
Reply With Quote Quick reply to this message

 
Old 02-29-2012, 05:45 AM
 
540 posts, read 1,516,809 times
Reputation: 330
missing the point....
2008 tax values are fine, for homes that existed then....but people are closing on new construction and the county is taxing them at what the house may have been worth in 2008, not what the house was built and sold for.

They are basically now stealing money!
Reply With Quote Quick reply to this message
 
Old 02-29-2012, 07:49 AM
 
Location: Union County
5,777 posts, read 8,398,199 times
Reputation: 4813
Quote:
Originally Posted by thestem View Post
missing the point....
2008 tax values are fine, for homes that existed then....but people are closing on new construction and the county is taxing them at what the house may have been worth in 2008, not what the house was built and sold for.

They are basically now stealing money!
I'm sorry, but you're missing the point... Regardless of when you bought or built in Union County, you are taxed as if it was 2008 - by law.

You can complain and call it unfair, but it's not "stealing". It's not underhanded - it's not sneaky - it's not illegal. If you didn't do your due diligence before buying or building in 2009, 2010, 2011, or 2012 - you only have yourself to blame. It's public record.
Reply With Quote Quick reply to this message
 
Old 02-29-2012, 09:18 AM
 
Location: Charlotte, NC
554 posts, read 1,311,033 times
Reputation: 286
Quote:
Originally Posted by GCharlotte View Post
I'm curious to know what you mean by "Reassessment". Did the county change your property value since you moved in or is this "reassessment" your definition of a value that differs from what you expected?

Taxes are public records. Unless Union county is doing a re-evaluation like they did last year here in Mecklenburg, there was no "reassessment".

It's unfathomable to me that the mortgage company at least didn't know what the taxes were when it came to qualifying you for the loan. A surprise $200 extra per month could push some people out of budget and lead to serious problems. I'm surprised this wasn't disclosed on a HUD statement.

If however it was a true reval, the #1 way this is done (though I'm not sure on Union) is through comps. It doesn't matter what you paid, it matters what your neighbors paid according to the schedule of values published by the county.

According to the following article, there isn't a reval this year: County says no to tax reval | Union County Weekly

It looks like they are using the 2008 schedule of values which they must BY LAW. It may be terribly unfair with the recession and all but there isn't anything you can do about it unless you can prove that comps from 2008 are not comparable to your house in 2008 (it doesn't matter when it was built, it has similar characteristics as comps that did exist).

Tax Administration

Either way, you should have known what your tax burden was going to be. I'm sorry if you were misled.

Yes, the county changed my property value. When I bought my house it was assessed at the same price I paid. A month later it was changed to 80k more. Yes, I was mislead....I was never told what my tax burden would've been...
Reply With Quote Quick reply to this message
 
Old 02-29-2012, 02:57 PM
 
5,150 posts, read 6,628,016 times
Reputation: 1438
Quote:
Originally Posted by AmandaEve011 View Post
Yes, the county changed my property value. When I bought my house it was assessed at the same price I paid. A month later it was changed to 80k more. Yes, I was mislead....I was never told what my tax burden would've been...
That sounds like confusion with tax stamps. Tax stamps are what you pay when you register the new deed. Regardless, you got walloped with a pretty nasty situation. No one would logically think that would happen unless you've been hanging around here with the Meck reval which set the schedule as of 1/1/11.

Sympathies but I think you're stuck until the next reval which may or may not help you. They have to do one sometime in the next 4 years but it looks like they are hedging their bets so not to loose revenue in the meantime. That could backfire on them or on you.

Good luck.
Reply With Quote Quick reply to this message
 
Old 03-01-2012, 05:30 AM
 
540 posts, read 1,516,809 times
Reputation: 330
Quote:
Originally Posted by MikeyKid View Post
I'm sorry, but you're missing the point... Regardless of when you bought or built in Union County, you are taxed as if it was 2008 - by law.

You can complain and call it unfair, but it's not "stealing". It's not underhanded - it's not sneaky - it's not illegal. If you didn't do your due diligence before buying or building in 2009, 2010, 2011, or 2012 - you only have yourself to blame. It's public record.
THE HOUSE DID NOT EXIST IN 2008! HOW CAN THEY MAKE UP A VALUE FOR IT?

I'm not talking about the Mill Rate, obviously, that's the same...I'm talking about the house being built for 150K and the thieves from the county saying, NO, it's 220K -- The county just arbitrarily decides what a house would have been worth back then? it's not the same original builder, it's not made of the same material, it's total bogusness!
Reply With Quote Quick reply to this message
 
Old 03-01-2012, 08:16 AM
 
277 posts, read 579,242 times
Reputation: 223
Quote:
Originally Posted by thestem View Post
THE HOUSE DID NOT EXIST IN 2008! HOW CAN THEY MAKE UP A VALUE FOR IT?

I'm not talking about the Mill Rate, obviously, that's the same...I'm talking about the house being built for 150K and the thieves from the county saying, NO, it's 220K -- The county just arbitrarily decides what a house would have been worth back then? it's not the same original builder, it's not made of the same material, it's total bogusness!
The county is not making an arbitrary decision, they are simply following the law.

Assessments are based on comps from 2008 for similar properties. Back then, homes from the original band of track builders (McCarr, Ryan, Mattamy, ect) were being built and bought at grossly inflated prices because of market demand. The 3000+ sq ft vinyl sided palaces were going for >$375K.

Advance forward to 2011. Demand is down, many of the original track builders are gone, lowered their price points, or been replaced by more competitive builders. Result Ė the OPís home, built in Millbridge in 2011, may be similar in size, but most likely was priced <$300K.

Unfortunately, the tax assessment must, by law, be determined based on the 2008 comps.

Not saying itís fair, but those are the facts. Iím in the same position, with a $50K spread between my purchase and assessment prices.

$50K at .6650 per hundred = $27.70 per month. Could be a burden to someÖ.
Reply With Quote Quick reply to this message
 
Old 03-01-2012, 08:30 AM
 
Location: Union County
5,777 posts, read 8,398,199 times
Reputation: 4813
Quote:
Originally Posted by thestem View Post
THE HOUSE DID NOT EXIST IN 2008! HOW CAN THEY MAKE UP A VALUE FOR IT?

I'm not talking about the Mill Rate, obviously, that's the same...I'm talking about the house being built for 150K and the thieves from the county saying, NO, it's 220K -- The county just arbitrarily decides what a house would have been worth back then? it's not the same original builder, it's not made of the same material, it's total bogusness!
Comps... look at the houses in your neighborhood (or surrounding area) that were bought or built in late 2007 and early 2008 - these are the comparable(s) to what you bought or built today BY LAW.

Typically it will reduce down to simply price per square foot. If the comps to your house were sold at $100sqft in 2008 on average, then your tax assessment will be set at $100sqft - regardless of what you paid for the house.

As for "the same material", I'm not sure what you mean. Of course these builders use the same material. Unless maybe you bought a manufactured home, then you shouldn't be compared to a stick built home.
Reply With Quote Quick reply to this message
 
Old 03-02-2012, 11:21 PM
 
Location: Indian Trail, NC
32 posts, read 101,879 times
Reputation: 16
I TOTALLY Agree and feel the same. They can and should do a LEGAL Proper re-assesment on Todays situation and values. I'm still searching for information to put in a proper appeal and get it back down where the house value should be, namely he SAME as when we signed for the house that was valued by professionals and not by sticking a finger in the air / drive by if any. So who has been able to appeal and get it turned down? Still searching and trying to learn. Makes me iffy and icky reading that peope with Lawyers even get tosses aside. Where is Justice? I do not have to sell for less as what I paid and way less as what they say my house value is. I KNOW it is NOT worth what they are taxing me on. If they were to pay me the money they say its worth then buy my house for that value and I buy another house that is the same as what I have now but for much cheaper or the same as what I Paid for it, I can use a $ +65 K to save and get my new mortgage lower as what it is now. So if you read this and have gotten it waived and live in or around Indian Trail Union county PLEASE send me a message, I want to know HOW you were able to do it.
Reply With Quote Quick reply to this message
 
Old 03-03-2012, 12:22 PM
 
5,150 posts, read 6,628,016 times
Reputation: 1438
Quote:
Originally Posted by Ameridutchman View Post
I TOTALLY Agree and feel the same. They can and should do a LEGAL Proper re-assesment on Todays situation and values. I'm still searching for information to put in a proper appeal and get it back down where the house value should be, namely he SAME as when we signed for the house that was valued by professionals and not by sticking a finger in the air / drive by if any. So who has been able to appeal and get it turned down? Still searching and trying to learn. Makes me iffy and icky reading that peope with Lawyers even get tosses aside. Where is Justice? I do not have to sell for less as what I paid and way less as what they say my house value is. I KNOW it is NOT worth what they are taxing me on. If they were to pay me the money they say its worth then buy my house for that value and I buy another house that is the same as what I have now but for much cheaper or the same as what I Paid for it, I can use a $ +65 K to save and get my new mortgage lower as what it is now. So if you read this and have gotten it waived and live in or around Indian Trail Union county PLEASE send me a message, I want to know HOW you were able to do it.
They have already said they aren't doing a reval this year. Plus, a big point that people seem to be missing is that if all the houses came in lower than what they were in 2008 (and they would) they would do what's called a "revenue neutral" adjustment. In other words, they'd raise your rates to make up for the difference.

And it doesn't matter what it's worth today. It's what it was worth in 2008 even if it didn't exist. THAT'S THE LAW.

They've got four more years before they have to look at it again.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. | Please obey Forum Rules | Terms of Use and Privacy Policy

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top