City and county taxes going up. (real estate, how much, assessments)

[spankys bbq]

“The year before a re-evaluation is not the time to increase taxes when we anticipate assessed values
will be 30-35 percent increase over the last evaluation,” Commissioner Matthew Ridenhour said.


This doesn't look good at all. Tax increase this year and valuation increase of possibly 30% next year.







Quote taken from https://www.wsoctv.com/news/local/co...tion/768418585

[GoPhils]

Supposedly they’ve said that they would lower the tax rate when they do the revaluation, but I kinda doubt that will happen.

[packard40]

Well they have lowered the rate in the past so let’s hope so

[BC1960]

Originally Posted by GoPhils

Supposedly they’ve said that they would lower the tax rate when they do the revaluation, but I kinda doubt that will happen.

Why? Its happened every time there's a reval.

[Charlotteborn]

They always lower the tax rate in hopes us peons will think they are giving us a tax break.

[GoPhils]

Originally Posted by BC1960

Why? Its happened every time there's a reval.

Not enough to really close to make up for the rise in assessments though last time. But I couldn’t find data other than around 2011, how much did the tax rate drop during the revaluation prior to 2011?

[BC1960]

Originally Posted by GoPhils

Not enough to really close to make up for the rise in assessments though last time. But I couldn’t find data other than around 2011, how much did the tax rate drop during the revaluation prior to 2011?

Thats not what you said in your previous post. You said you doubted they would "lower the tax rate", period. The most that can be done is to adopt a revenue neutral tax rate, based on the average increase in assessed values. Obviously, that will mean some people will pay the some, some will pay less and some will pay more. But again, thats not what you said. You simply said you doubted they would reduce the rate.

I've seen the past numbers, don't have in front of me at the moment.

[GoPhils]

Originally Posted by BC1960

Thats not what you said in your previous post. You said you doubted they would "lower the tax rate", period. The most that can be done is to adopt a revenue neutral tax rate, based on the average increase in assessed values. Obviously, that will mean some people will pay the some, some will pay less and some will pay more. But again, thats not what you said. You simply said you doubted they would reduce the rate.

I've seen the past numbers, don't have in front of me at the moment.

Sorry, I should have said enough to really make a difference. Even if it goes down a few cents or what have you, many properties will likely have their assessments increased by 20-50% based on the rise in values.

[BC1960]

Originally Posted by GoPhils

Sorry, I should have said enough to really make a difference. Even if it goes down a few cents or what have you, many properties will likely have their assessments increased by 20-50% based on the rise in values.

In 2012, as a result of the 2011 revaluation, the revenue neutral tax rate was 43.7 cents, which is the tax rate the city adopted. That was a reduction of 2.16 cents. Thats really all they can do. Everyone has to pay the same tax rate. If your property's revaluation increased the same percentage as all properties, then then the amount of taxes you pay would stay the same. If it increased less, your taxes would go down. And if it increased more, your taxes would go up. Thats just how it works. Its impossible to guarantee that everyone's taxes will remain the same. And frankly, if your property's value is rising faster than the city as a whole, thats not such a bad thing.

[BRWDRMN]

GoPhils is absolutely right. I would call your real estate agent now and start getting comps to appeal. It is robbery and that is all that is going on. If your taxes are 10k and they go to 20k I mean insane.