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Old 04-01-2013, 04:34 PM
 
Location: NJ
17,574 posts, read 46,044,734 times
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Quote:
Originally Posted by Jasmine0 View Post
I only wanted to know if it is really as simple as 2+2 or as complicated as an algebraic theorem with other factors that I don't know of.
It is basic math. But look up the tax assessment of each house to really figure out the numbers. For example, one house I lived in before basically kept the same tax assessment from about 1970. What they adjusted was the tax rate.
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Old 04-01-2013, 04:39 PM
 
Location: Hernando County, FL
8,488 posts, read 20,585,660 times
Reputation: 5397
Quote:
Originally Posted by Jasmine0 View Post
I only wanted to know if it is really as simple as 2+2 or as complicated as an algebraic theorem with other factors that I don't know of.
If neither property has any kind of homestead exemption or any other adjustment which is affecting the assessed value and those are the actual rates for each area then it is simple math. If you are comparing different counties or townships then it is usually just the simple math but you also need to look out for any other non-ad valorem assessments which could differ by county.
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Old 04-01-2013, 05:04 PM
 
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I am trying to compare two towns in two different counties. More or less similar exemptions but tax rates are far apart.
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Old 04-01-2013, 07:28 PM
 
936 posts, read 2,197,234 times
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It may not be simple math depending on what your assumptions are. I used a financial calculator that allowed me to compound the effect of the interest on a yearly basis. Any cost differences in taxes are likely to be compounded rather than just simple interest because the affect of a different tax rate would be applied to a new value each year.
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Old 04-02-2013, 01:21 AM
 
Location: Hernando County, FL
8,488 posts, read 20,585,660 times
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Quote:
Originally Posted by yousah View Post
It may not be simple math depending on what your assumptions are. I used a financial calculator that allowed me to compound the effect of the interest on a yearly basis. Any cost differences in taxes are likely to be compounded rather than just simple interest because the affect of a different tax rate would be applied to a new value each year.
Why would you treat tax payments like compounded interest? The tax payments don't get added to your assessed value. Yes, the property may go up in value but it has nothing at all to do with the taxes.
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Old 04-02-2013, 12:04 PM
 
936 posts, read 2,197,234 times
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I made the assumption that the yearly % increase in taxes would be applied upon the prior year's increases- hence, compounding. But it all depends on where the original poster is getting their numbers from.
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Old 04-02-2013, 05:01 PM
 
8,559 posts, read 12,325,340 times
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Quote:
Originally Posted by Jasmine0 View Post
I only wanted to know if it is really as simple as 2+2 or as complicated as an algebraic theorem with other factors that I don't know of.
Calculating property taxes is always more complicated than you might think.

Sure, you can calculate tax rates (which are subject to change)...but it's always more difficult to know what's in the head of assessors--and what political pressures they are facing to raise tax revenue.
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