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Old 05-22-2008, 03:39 PM
 
Location: State of Being
35,885 posts, read 67,059,012 times
Reputation: 22371

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U120 - been thinking about you today and wondering what you worked out w/ the assessment people. Hope things went well . . .
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Old 05-22-2008, 06:45 PM
 
Location: Waxhaw
264 posts, read 765,367 times
Reputation: 81
Quote:
Charlotte Observer = CLT OBS
Oh....Thanks!
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Old 05-22-2008, 06:48 PM
 
Location: State of Being
35,885 posts, read 67,059,012 times
Reputation: 22371
Quote:
Originally Posted by VickiT View Post
Oh....Thanks!
You are welcome - we tend to get into habits w/ abbreviations around here, LOL.

Vicki - didn't you post earlier that you may be fighting city hall, too, w/ an assessment? Have you gotten your info yet? Or just suspect it will be unreasonable? Just curious - wondering what you are dealing with.
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Old 05-22-2008, 08:36 PM
 
431 posts, read 1,498,705 times
Reputation: 125
Hi Ani. Thanks for the well wishes and thoughts. Today I think went exceptionally well. The meeting was comprised of 3 civilian board members, whom I truly felt were on our side and in the homeowners best interest, 2 appraisers from the county and 2 keepers of the testimony. Most of the people there today were large parcel owners appealing land value. I truly feel for these old farmers and think they arent getting treated fairly but thats a whole different issue.

The meeting was called to order and the person in charge explained that he needed hard evidence to refute and appeal the assessments. He was adamant about not approaching the bench with strictly opinions because it wasnt going to work. I honestly believe he wanted to help out everyone in the room but requirements were set and unfortunately most people only had opinions as their arguement.

My turn eventually came and I couldnt help but think of the movie My Cousin Vinny, when Joe Pesci faced the Southern Judge, as I am an Italian from NY but I wasnt wearing a leather blazer : ) The board members were great and what was discovered was their apprasiers used mainly comps from 2005, 2006 and early 2007. The market for my price point home really became depressed over these past 12 months and they didnt take any of that into consideration. That is until I presented them with my appraisal. The apprasiers from the County had no arguement and basically conceded that they werent thorough enough with these assessments. The 3 board members were in total agreement that this was a depressed market and needed to reflect that in the assessment.

A decision wasnt made on the spot but I feel very confident that my apprasied value will be my assessed value. I was really pleased with the honesty and friendliness of all people involve with the process present. A decision will be made within 30 days.

I would highly reccomend anyone else in my position to spring for the appraisal, as it is what is needed for them to justify making their adjustments. They did say that there are many neighborhoods in similiar situations to mine that they are expecting these coming weeks. I believe Weddington Chase is one of them.

Thanks again Ani for your support and advice, even tho it took some arm twisting to get you on my side ; ) As soon as I get the official reassessment I will post it.

If anyone has any questions that I can help you with regarding this process, feel free to ask away
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Old 05-22-2008, 08:51 PM
 
Location: State of Being
35,885 posts, read 67,059,012 times
Reputation: 22371
Well this sounds very encouraging! And yes, it took some arm twisting as I truly thought you were over-stating the situation! My bad!! I should not have made that assumption.

I am soooo glad you decided to get that appraisal. I felt it was crucial to have that in hand. It sounds like you felt good about having it to produce to the board members.

I got such a clear mental image - I have watched "My Cousin Vinny" maybe - oh - six times? LOL! Love Joe Pesci . . . so could just see Mr. U120 (sans ugly suit) in front of the judge . . .


YouTube - Funny court scene from My cousin Vinny

All kidding aside, I hope you will get your answer soon, and surely they will rule in your favor . . . and GET REAL w/ that assessment!

Your post really explained the process well, and I suspect others will read it and find it very helpful, should they decide to appeal.

You ought to feel really good - you have survived a tangle w/ City Hall!!!

Let us know . . .
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Old 05-22-2008, 10:12 PM
 
Location: Waxhaw
264 posts, read 765,367 times
Reputation: 81
Hi Ani,
We are closing on our new home next week.
New Valuation $1,253,010
Old Valuation $799,290
Percent Change 57

The home is a foreclosure, so I understand that part of it, but I think that raising the tv +$454k is ridiculous.
I was still listed at 799K on the paperwork when we put in the offer. Our offer was under the previous 799k tax value. The appraiser was out there yesterday so I find out tomorrow what it appraised for.
I am by no means against them raising the taxes, however 57% is unfair especially in this market.
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Old 05-23-2008, 06:23 AM
 
743 posts, read 2,025,332 times
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Quote:
Originally Posted by VickiT View Post
Hi Ani,
We are closing on our new home next week.
New Valuation $1,253,010
Old Valuation $799,290
Percent Change 57

The home is a foreclosure, so I understand that part of it, but I think that raising the tv +$454k is ridiculous.
I was still listed at 799K on the paperwork when we put in the offer. Our offer was under the previous 799k tax value. The appraiser was out there yesterday so I find out tomorrow what it appraised for.
I am by no means against them raising the taxes, however 57% is unfair especially in this market.

That does seem like a lot but with it being a foreclosure it may just have been priced to move. What area is the house and what are the neighboring houses?

I know in our neighborhood,our tv went up 20K and the prices of the new houses are continuing to drop. I really feel like we were taken but all new construction is doing this. Guess that is what I get for buying mine back in 2006.
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Old 05-23-2008, 06:34 AM
 
Location: State of Being
35,885 posts, read 67,059,012 times
Reputation: 22371
Quote:
Originally Posted by VickiT View Post
Hi Ani,
We are closing on our new home next week.
New Valuation $1,253,010
Old Valuation $799,290
Percent Change 57

The home is a foreclosure, so I understand that part of it, but I think that raising the tv +$454k is ridiculous.
I was still listed at 799K on the paperwork when we put in the offer. Our offer was under the previous 799k tax value. The appraiser was out there yesterday so I find out tomorrow what it appraised for.
I am by no means against them raising the taxes, however 57% is unfair especially in this market.
WHEW!!!!! Oh my!!!! Well, if the appraisal comes in at $1M, I guess you can look at it that you have acquired quite a lot of "instant equity" and truly got a bargain property . . . but in this market, that does seem past absurd.

I surely hope you get an appraisal back that more clearly reflects the value of your property. How can they justify a leap in valuation of 57%? I have really been astounded at some of the situations I have heard about.

At least U120 gave you a clear picture of what to expect in an appeal hearing!!!

Good luck . . . and let us know. Looks like you may be getting ready to "fight City Hall," too . . .
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Old 05-23-2008, 12:21 PM
 
Location: Waxhaw
264 posts, read 765,367 times
Reputation: 81
Quote:
Originally Posted by md to nc View Post
That does seem like a lot but with it being a foreclosure it may just have been priced to move. What area is the house and what are the neighboring houses?

I know in our neighborhood,our tv went up 20K and the prices of the new houses are continuing to drop. I really feel like we were taken but all new construction is doing this. Guess that is what I get for buying mine back in 2006.
The house had been listed since November I think, and it was listed somewherein the 900's. They dropped the price a few times for a total drop of about 300K. We offered well over asking price. I don't know when the last assessments were done, but the original tv was $799,000. The neighborhood is not selling. I think the last house sold in July and there are about 20 homes for sale there now (new construction).
I think that these big jumps in tv are unreasonable. I don't know what pecentage rate yours went up, but I would research it a little bit. I wonder if whole neighorhoods can appeal at the same time?

Quote:
Originally Posted by anifani821 View Post
WHEW!!!!! Oh my!!!! Well, if the appraisal comes in at $1M, I guess you can look at it that you have acquired quite a lot of "instant equity" and truly got a bargain property . . . but in this market, that does seem past absurd.

I surely hope you get an appraisal back that more clearly reflects the value of your property. How can they justify a leap in valuation of 57%? I have really been astounded at some of the situations I have heard about.

At least U120 gave you a clear picture of what to expect in an appeal hearing!!!

Good luck . . . and let us know. Looks like you may be getting ready to "fight City Hall," too . . .
And the appraissed value is.....
$810,000

Remember:
New Valuation $1,253,010
Old Valuation $799,290

Ani, I think you are right. I am rolling up my sleeves.

Like I said, I am by no means against raising tv's, but they just need to be more reasonable and fair. It seems like they are out of control with this. They should use more consistent methods and be more thorough.
I'm surprised I haven't seen this mentioned in the Observer yet.
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Old 05-23-2008, 12:24 PM
 
Location: Waxhaw
264 posts, read 765,367 times
Reputation: 81
Thanks U120 for writing about your experience here. I wish you luck on getting it lowered to at least appraised value. I wish you didn't have to wait 30 days to find out though.
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