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Old 03-03-2009, 08:59 PM
 
2 posts, read 5,071 times
Reputation: 11

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My accessed value, or notice of value for tax purposes is half of what i paid for the land in otero county nm. I can't convince my mother i did not get ripped off. How can i prove to her the notice of value is not market value.
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Old 03-03-2009, 09:49 PM
 
Location: New Mexico U.S.A.
26,527 posts, read 51,587,820 times
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Tax notice? I forget the rule, it might be 65% of actual accessed value. Works that way almost all over the US.

How you prove it to your Mom? Have you visited the local Otero County web site?

Added: Start here: http://www.co.otero.nm.us/assessor/assessor.htm



Rich
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Old 03-04-2009, 05:59 AM
TKO
 
Location: On the Border
4,153 posts, read 4,258,481 times
Reputation: 3287
Values are typically about 90% throughout the state. Is your land vacant? If there's a house or trailer on it it's residential and we have something similar to Cali's prop 13 here called a cap. Values have only been allowed to go up 3% a year since 1999 when the bill passed. That could have something to do with it. Call the Assessor's office and talk to one the folks there if you want to, but if it's just a mistake you might just shoot yourself in the foot doing that. The best way to stave of the criticism is to find out what some of the neighboring property has sold for. That info would be more available from a realtor or appraiser than the Assessor's who are bound by confidentialty.
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Old 03-05-2009, 02:26 PM
 
Location: NM south central mountains
390 posts, read 949,635 times
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If it is over 60 acreas it might have been appraised as grazing land. I pay $649 for my 180.
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Old 03-05-2009, 08:49 PM
 
2 posts, read 5,071 times
Reputation: 11
the land is unimproved. electric is close to property line and i do have water, but no meter. i pay an assoc. for water and our new well. its 2.2 acres located at 16 springs rd. and bell canyon off hwy 82 near cloudcroft. thank you all for reply's. Dave
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