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Old 04-03-2008, 09:32 PM
 
431 posts, read 1,663,720 times
Reputation: 127

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Quote:
Originally Posted by CouponJack View Post
I think in the area where you are, late '06 / early '07 was the turning point. People don't like to hear it, but to me homes did not appreciate in '07 IMO. The numbers were skewed from the McMansions that were built over the past 1-3 years. Of course this will drive sold prices UP for the short term....
until they (builders) start building smaller homes and construction slows for a good period of time. But you and I have seen it in what builders are offering today vs. 1-2 years ago.....
Totally agree about 07, which is one of my main points for these ridiculous assessments. I am convinced that since 2006, my housing market has depreciated, thats an easy one. How much? Not entirely certain, but 10% is not out of the question. Union County Tax Assessors think otherwise. I hope they can prove it to me.
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Old 04-03-2008, 09:53 PM
 
Location: State of Being
35,879 posts, read 77,186,112 times
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Quote:
Originally Posted by U120 View Post
Totally agree about 07, which is one of my main points for these ridiculous assessments. I am convinced that since 2006, my housing market has depreciated, thats an easy one. How much? Not entirely certain, but 10% is not out of the question. Union County Tax Assessors think otherwise. I hope they can prove it to me.
I hate to say it . . . but I honestly doubt you will get anywhere w/ an appeal.

We went through the same thing w/ our previous home. Everyone was terribly upset b/c the assessments skyrocketed. But you know . . . after five years . . . the valuation was on target. Are you planning to stay there?

You might as well start working on a rationale wh/ leads you to an acceptance of the assessment!!! (I don't have much faith in anyone's ability to fight City Hall on these matters).

How much will this add to your tax bill?
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Old 04-03-2008, 10:10 PM
 
431 posts, read 1,663,720 times
Reputation: 127
Quote:
Originally Posted by anifani821 View Post
I hate to say it . . . but I honestly doubt you will get anywhere w/ an appeal.

We went through the same thing w/ our previous home. Everyone was terribly upset b/c the assessments skyrocketed. But you know . . . after five years . . . the valuation was on target. Are you planning to stay there?

You might as well start working on a rationale wh/ leads you to an acceptance of the assessment!!! (I don't have much faith in anyone's ability to fight City Hall on these matters).

How much will this add to your tax bill?
We love it here and have no plans whatsoever in ever leaving. How often do they re-assess your homes?

Youre probably right about the city hall stuff. It just burns me up tho and I have plenty of free time to fight it.
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Old 04-03-2008, 10:47 PM
 
Location: State of Being
35,879 posts, read 77,186,112 times
Reputation: 22751
Quote:
Originally Posted by U120 View Post
We love it here and have no plans whatsoever in ever leaving. How often do they re-assess your homes?

Youre probably right about the city hall stuff. It just burns me up tho and I have plenty of free time to fight it.
Heck, why not fight it then! Sometimes, sheer tenacity makes the difference!

You know, I had looked up info on UC tax assessment for someone else . . . and I may be wrong but seems I read that by statute, assessments can be done every four years . . . but that doesn't mean they absolutely will do a re-assessment in another four years . . . if I find that link, I will post it.

My personal opinion is that real estate in many subdivisions in UC was selling for about 8-10% overall more than it should have in 2005/6/7. There will be plenty who disagree w/ me, I am sure, but I felt prices were inflated. I was seeing $450,000 houses that I personally thought should have been priced closer to $415,000. Seemed to me a lot of homes above $400,000 were overpriced. I was not looking closely at the market above $700,000 so not sure about those homes.
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Old 04-04-2008, 06:03 AM
 
431 posts, read 1,663,720 times
Reputation: 127
I felt extremely comfortable and confident in the price of my home when I purchased it in 06. Unfortunately since then, the nation has had a major real estate correction which has directly affected our market, as evident by current sales prices. Its virtually impossible for a home purchased in 06 to appreciate, while a home bought in late 07 or even 08 to depreciate in these markets, and thats what the assessors are claiming.
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