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Old 12-22-2009, 10:51 PM
 
2,036 posts, read 4,236,312 times
Reputation: 3201

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Quote:
Originally Posted by Buzz123 View Post
I have to look again but I think my assessed value went down but taxes went up. There is some lame excuse for this on the back of the form. At the same time I got the assessment I got a letter from some company about doing an appeal and saving $850 a year. Anybody know anything about that? I'm sure it must be a scam.
Basically, its a solicitation to have a company perform an appeal on your behalf for a fee. Why pay someone to do what you can do yourself?
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Old 12-23-2009, 03:43 AM
 
654 posts, read 1,320,215 times
Reputation: 1044
Quote:
Originally Posted by Buzz123 View Post
I have to look again but I think my assessed value went down but taxes went up. There is some lame excuse for this on the back of the form. At the same time I got the assessment I got a letter from some company about doing an appeal and saving $850 a year. Anybody know anything about that? I'm sure it must be a scam.
It may be a scam, but there are legitimate companies doing just that.

The one mentioned on the assessor's web site wants to charge $189 up front & I've never known any to work that way.

Legitimate companies usually employ specialized attorneys and/or former assessors who know the system. I've used them a few times in Chicago since (1) They know the system better & (2) They have ready access to useful data to make a case for a reduction. Their fee is a percentage of what they save you, which isn't perfect but seems reasonable. My main complaint is more the local system - Cook County (Chicago area) tries to hike taxes 40% when they know values are down, then you're required to hire someone who knows their quirky system to plead your case - it's created a profitable little industry for those who specialize in it. Of course, I'd never suggest there's anything less than ethical in Chicago's political system.

Last year here in Las Vegas, I appealed on my own & won my case thanks to some research & preparation (Olecapt provided helpful data.) This year, it seems like there may be a smaller margin, but I'll still investigate.
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Old 12-23-2009, 10:16 AM
 
458 posts, read 1,668,184 times
Reputation: 369
Forgive my ignorance, we are still renters, but when a person's taxation amount changes, does their monthly payment change? Taxes and insurance and your house payment are all rolled into one monthly amount, right? Or do you just pay taxes in a lump sum at the end of the year?
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Old 12-23-2009, 10:23 AM
 
11,166 posts, read 15,959,350 times
Reputation: 29858
Quote:
Originally Posted by sheriwx View Post
Forgive my ignorance, we are still renters, but when a person's taxation amount changes, does their monthly payment change? Taxes and insurance and your house payment are all rolled into one monthly amount, right? Or do you just pay taxes in a lump sum at the end of the year?
Mortgages can be set up either way. Some people have their property tax and homeowners insurance included with their principal and interest payment, commonly referred to as PITI. The mortgage processor escrows the monthly payments and then pays the taxes and insurance when due. I prefer to pay my insurance and taxes separately, so a change in the property tax (or insurance for that matter) has no effect on my monthly mortgage payment.
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Old 12-23-2009, 10:24 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,122,137 times
Reputation: 2661
Quote:
Originally Posted by sheriwx View Post
Forgive my ignorance, we are still renters, but when a person's taxation amount changes, does their monthly payment change? Taxes and insurance and your house payment are all rolled into one monthly amount, right? Or do you just pay taxes in a lump sum at the end of the year?

It is done both ways. Many banks set up an escrow account and collect from you monthly enough to fund tax payments.

Some pay the tax themselves without an escrow. There are four payments of 1/4 the tax starting in the fall and ending in March.

When the tax changes you get a new amount from the bank to pay monthly.
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Old 12-23-2009, 11:38 AM
 
Location: Tucson
430 posts, read 1,310,297 times
Reputation: 346
Default What to do?

Our house valuation went down, good. I assume that means less taxes. Our land value went up $20k, not good. Does anyone elses show that?

How the heck do home values decrease, but the land increase? Bizarre.
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Old 12-23-2009, 02:41 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,122,137 times
Reputation: 2661
Quote:
Originally Posted by ruready1st View Post
Our house valuation went down, good. I assume that means less taxes. Our land value went up $20k, not good. Does anyone elses show that?

How the heck do home values decrease, but the land increase? Bizarre.
They are figured by different algorithms but it does not compute. Go past their office and ask...I don't believe any residential RE in Las Vegas could have gained value this year. Unless a brand new house or such.
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Old 12-24-2009, 01:27 PM
 
Location: Tucson
430 posts, read 1,310,297 times
Reputation: 346
Quote:
Originally Posted by olecapt View Post
They are figured by different algorithms but it does not compute. Go past their office and ask...I don't believe any residential RE in Las Vegas could have gained value this year. Unless a brand new house or such.
House built in 2005. Then it must be an error. Since I would have to go down to the office to ask about the land value, should I have the info to appeal the whole amount too? I don't think the house value went down as low as the true values have decreased here. What back up/ research info do they usually ask for to support an appeal?
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Old 12-24-2009, 04:01 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,122,137 times
Reputation: 2661
Quote:
Originally Posted by ruready1st View Post
House built in 2005. Then it must be an error. Since I would have to go down to the office to ask about the land value, should I have the info to appeal the whole amount too? I don't think the house value went down as low as the true values have decreased here. What back up/ research info do they usually ask for to support an appeal?
Send me your address by DM and I will send you the comps...the recent comparable sales. If they look lower than your value appeal.
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