[flyingtigers]

I'm trying to figure out if this is worth is, possible at this point or if I am even getting this right!

According to the Assessors office, the "Total Taxable Value" of what I just purchased is $36K more that what I paid. Two other units like mine have sold in the past 4 months, both of those were 19K under what the assessors office has taxable value at (I got a good deal).

Does a sale trigger a new assessment? Is this the kind of thing to appeal? Does this just work out in next years assessment?

[airics]

was this a foreclosure? they are probably still valuing it at the previous price minus some devaluation... you need to appeal next year.. but you will need to have the proof.. i sent in a list of comps (not zillow.. the actual realtor-driven program) and proved my point.. if you haven't appealed this year, it is too late.

[flyingtigers]

It was a foreclosure. Nothing else sold comparable in the complex all year. Could not appeal any earlier as i just closed 2 weeks ago. I'll wait until next year then...thanks!

[airics]

so did the units this year sell for more or less?

[flyingtigers]

Last year there were 2 sales, both under by 19K....mine was under 36K, closing two weeks ago.

[airics]

are you saying 19k under taxable value and 36k under taxable value?>

[flyingtigers]

Yes.

[airics]

then i don't think there is any basis for appeal...if you bought for 175 and others sold for 100 or so.. but if your's was the cheapest, you are the luckiest.

[flyingtigers]

I guess that's the part I don't understand. My taxes are based on my new purchase price and not number at the assessors office?

[olecapt]

Originally Posted by flyingtigers

I guess that's the part I don't understand. My taxes are based on my new purchase price and not number at the assessors office?

Wat you bought it for pretty much sets the FMV for the home. So next time the do the calculation in the third quarter I think they will reflect your value. You value will also drive the nieghborhood values.

So you have pretty much set the maximum value for your place though it might come in even lower if others sell for less in the next months.

When you get your assessed values next December look close and if not happy appeal.

As the guys have shown this year it works OK if you do it correctly.