[RedRockAAAA]

Does common sense dictate that with assessments down the 3% cap is not in effect?

Could the county have saved $$ by not paying the printing, postage out and postage for return not to mention the employee time to handle each card?

On your mark, get set, go ...

[olecapt]

Originally Posted by RedRockAAAA

Does common sense dictate that with assessments down the 3% cap is not in effect?

Could the county have saved $$ by not paying the printing, postage out and postage for return not to mention the employee time to handle each card?

On your mark, get set, go ...

Uhhh some of us...perhaps even the majority...still pay only part of the tax. I probably won't run out for another 3 years or so I think. In fact I continue to hope it goes up before it tops out.

[RedRockAAAA]

Sorry. On this one, I don't follow you. I guess I missed something.

If your assessment went down, didn't your taxes go down? If your taxes went down, why would you need a 3% cap on a tax increase that would not exist?

I can understand if the property went from persoanl residence to rental property, they would need to know. Yet, couldn't that be accomplished by some other means than the printing, postage and handling of this request of every property owner. I would think perhaps even the majority would be responding, yep ... was personal residence and yep still is personal residence.

[olecapt]

My property is well down. But it is still well above the level at which the cap would stop being useful

The following is extracted from the Tax Records....

Item ......................Amount

Taxes as Assessed $5,259.14

Less Cap Reduction $2,158.73

Net Taxes ............ $3,100.41

So I paid 3100 instead of 5259. Next year it will still yield at least a few hundred. It will be assessed at about $4000 and the taxes will be limited to $3500. It will reach zero in 2011 unless values go up

[Chuck75]

Originally Posted by olecapt

My property is well down. But it is still well above the level at which the cap would stop being useful

The following is extracted from the Tax Records....

Item ......................Amount

Taxes as Assessed $5,259.14

Less Cap Reduction $2,158.73

Net Taxes ............ $3,100.41

So I paid 3100 instead of 5259. Next year it will still yield at least a few hundred. It will be assessed at about $4000 and the taxes will be limited to $3500. It will reach zero in 2011 unless values go up

Yeah, just got my 2010-2011 tax info... it was 1400ish last year, just under 1000 this year! Am I now locked in at 1000 + 3% cap does anyone know? Also - there was no cap reduction...

[ft_chief]

Originally Posted by Chuck75

Yeah, just got my 2010-2011 tax info... it was 1400ish last year, just under 1000 this year! Am I now locked in at 1000 + 3% cap does anyone know? Also - there was no cap reduction...

Yes, as long as you remain a full time resident in your house. Your cap will remain at 3% with your lowered property tax of $1000.00. Next yr if property values increase, the max they can raise your taxes is $30.00.

[Chuck75]

Originally Posted by ft_chief

Yes, as long as you remain a full time resident in your house. Your cap will remain at 3% with your lowered property tax of $1000.00. Next yr if property values increase, the max they can raise your taxes is $30.00.

Awesome... that's what I wanted to hear... Thanks!