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Old 12-28-2008, 06:47 PM
 
Location: Austin Bound
4,642 posts, read 8,149,196 times
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Default Higher property taxes on corner lots?

We are house hunting and someone told us that houses on corner lots generally have higher property taxes than houses not located on corner lots. I Googled this and found arguments on both sides (some people saying it is true and others saying it is a myth).

Does anyone have a definite answer and an authoritative source? It would be a lot of work to just start looking up property taxes on a bunch of properties to figure it out.

Thanks!
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Old 12-28-2008, 06:54 PM
 
Location: NW Las Vegas - Lone Mountain
15,758 posts, read 19,186,883 times
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Quote:
Originally Posted by Topaz View Post
We are house hunting and someone told us that houses on corner lots generally have higher property taxes than houses not located on corner lots. I Googled this and found arguments on both sides (some people saying it is true and others saying it is a myth).

Does anyone have a definite answer and an authoritative source? It would be a lot of work to just start looking up property taxes on a bunch of properties to figure it out.

Thanks!
Only a local can answer that. In general the answer is yes because corner lots historically are worth more money than interior lots.

there are also places that use complex formulas based on the cost of reproducing such a house in a specific year. The formula may include a kicker for a corner lot.

Any authoritative source will be local.

I would ignore it. It is never a big factor in my experience.
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Old 12-28-2008, 08:00 PM
 
Location: Houston, Texas
10,428 posts, read 27,687,716 times
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Back east nearly everyone had 50 X 100 lots where I lived. The corner lots all were 60 X 100 which are just a tad bigger. Of course the townships took full advantage of this by charging a little extra taxes on the larger lots.

Some towns also assess value based on road frontage. So rather then having the front 50' frontage you now also have the 100' side frontage.
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Old 12-28-2008, 08:05 PM
 
10 posts, read 56,199 times
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Quote:
Originally Posted by Topaz View Post
We are house hunting and someone told us that houses on corner lots generally have higher property taxes than houses not located on corner lots. I Googled this and found arguments on both sides (some people saying it is true and others saying it is a myth).

Does anyone have a definite answer and an authoritative source? It would be a lot of work to just start looking up property taxes on a bunch of properties to figure it out.

Thanks!

Yes; It depends on your area.

Some cities compute the double street frontage as exactly that: double. Others might charge slightly more than for regular frontages and yet others compute it as a regular midblock home.
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Old 12-29-2008, 04:04 PM
 
Location: Barrington
17,250 posts, read 12,430,911 times
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In my area, corner lots tend to be larger than interior lots which is why they are assigned a higer assessed value.

The tax assessor does not assign a greater or lesser value to lot locations. Size matters.
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Old 12-30-2008, 12:27 AM
 
Location: Cedar City, Utah
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I hope taxes aren't too much more. I never knew that more could be charged on corner lots. I thought it was the area the home was in and the size of the home. Now I am paying attention as we have an offer in on a house on a corner lot.
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Old 12-30-2008, 01:40 AM
 
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i have a multifamily on two corner lots. taxes are outrageous, but all taxes here are outrageous. interesting topic i have never considered this before, i will try to find some comps, but i doubt there is anything close to what i have in town. weird property to deal with from the start. not worth the hassle IMHO. but still interesting...
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Old 12-30-2008, 01:43 AM
 
404 posts, read 768,146 times
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Quote:
Originally Posted by Chickrae View Post
I hope taxes aren't too much more. I never knew that more could be charged on corner lots. I thought it was the area the home was in and the size of the home. Now I am paying attention as we have an offer in on a house on a corner lot.
my thoughts as well. i honestly think it has to do with square footage of the home. the footprint is usually consistent in a subdivision or neighborhood, hence the taxes are usually similar. i need to know now... will be researching this...
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Old 12-30-2008, 06:36 AM
 
Location: Venice Florida
1,381 posts, read 3,453,014 times
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There are two issues with corner lots and property taxes. The first; property value. In most areas this would be determined by a property appraiser in the tax office. The values would be set based on sales history. If people pay more for homes on corner lots then the value would be higher thus the taxes would be higher. My experience is that corner lots do not resale for more money.
The second issue relative to taxes is capital improvement assessments. Improvement such as repaving, sidewalks, sewer, and water infrastructure. These assessments are frequently priced out by frontage. Since corner lots often have twice the frontage their assessments can be higher. Many municipalities do see the inequity in this and bill on a per unit basis.

On smaller platted lots corner lots are usually the least desirable. The lot has road setback issues on two sides, much more front yard than back yard, and three rear neighbors instead of one.
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Old 12-30-2008, 11:18 PM
 
Location: Cedar City, Utah
4,162 posts, read 5,451,549 times
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Quote:
Originally Posted by michael11747 View Post
my thoughts as well. i honestly think it has to do with square footage of the home. the footprint is usually consistent in a subdivision or neighborhood, hence the taxes are usually similar. i need to know now... will be researching this...
Ok it will be interesting to see what you find out. The lot of the home we are looking at is much bigger than the other lots around it, but then some of the homes on the smaller lots around this house are bigger in square footage. It's very confusing
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