Homeowners - How Much are you Paying for Property Taxes?

[tahiti]

Originally Posted by apvbguy

if your friend is going from 21 k to 17k then there is someone else who will be going from 17k to 21k. the pot of money being raised isn't changed by a reval, what is changed is who pays what.
lastly don't believe anything anyone tells you about a reval 99.9% of the people cannot grasp the concepts involved ( except me, I am that .01%). The only person who will be able to give you the correct facts would be your town's tax collector or assessor

believe it or not, i know this (so count me in the .01% with you). my town was kind enough to spell this out in a letter sent to us before the assessors came by. i think you need to direct your comments to those who said "i pay $10K and am being assessed next year" (the implication being their taxes were being raised). my only point (which I thought was quite clear) was that did NOT mean their taxes were necessarily going up.

[AnesthesiaMD]

Yeah, I figured since my house is 1.5 years old that I will most likely not be going up. Best case scenario, it will go down. Worst, it will stay the same. There is nothing to say a town cant raise the overall property tax the same year they do a reval. They are building a new municipal building and a large addition to the high school, which are both going to be major bucks.

[apvbguy]

Originally Posted by AnesthesiaMD

Yeah, I figured since my house is 1.5 years old that I will most likely not be going up. Best case scenario, it will go down. Worst, it will stay the same. There is nothing to say a town cant raise the overall property tax the same year they do a reval. They are building a new municipal building and a large addition to the high school, which are both going to be major bucks.

that is what causes much confusion, a reval is not a tax increase, does not cause a tax increase, only a tax increase causes a tax increase, the 2 things, revals and taxes are 2 seperate things. I'll repeat, if a towns's tax rate stays stable a reval will usually cause 1/3 of the people to have a higher valuation of their home, and will pay more taxes, 1/3 of the people will have a lower valuation and will have a lower tax bill and 1/3 will see little change. Again that statement only holds true as long as the taxes being raised remains the same, and that part of the equation rarely happens and that component of the reval process is what causes all the confusion

[tahiti]

Originally Posted by AnesthesiaMD

Yeah, I figured since my house is 1.5 years old that I will most likely not be going up. Best case scenario, it will go down. Worst, it will stay the same. There is nothing to say a town cant raise the overall property tax the same year they do a reval. They are building a new municipal building and a large addition to the high school, which are both going to be major bucks.

this is true. we built a new school a few years ago (plus additions and renos at other schools) and got hit (not terribly, but a few hundred bucks)...