Massive Property Tax Increase Proposed

[GCharlotte]

Originally Posted by XcapefromNJ

You appealed... because you thought your house value declined more than 40% or you are trying to get your tax value (and your taxes) increased? I would hope the county would automatically grant any requests for increases.

I appealed because I think my 1850 sq ft house is worth more than $82K and that the way our neighborhood was calculated (strictly based on foreclosures) was inappropriate.

I would like to know what the overall distribution of increases/decreases looks like. How many people, like me, had an increase of 26% or more in their assessment? It seems silly to worry about slight changes in the tax rate when assessments have changed so much. Frankly, it matters little to me whether the county approves a revenue neutral tax rate or a symbolic 1 penny decrease in the tax rate. My tax bill is going to go up 22%, 24%, 26% either way.

I think there might be a scatter map as far as % goes somewhere at Searchable databases, interactive maps, salaries, taxes | CharlotteObserver.com

How many people just struggling to get by now will be pushed over the edge when their new tax bill represents an increase of 25% or 30%? Will we see a new wave of foreclosures as people get their new tax bill, shrug their shoulders and walk away from their newly unaffordable home?

Which is why a revenue neutral rate would help take the sting out of things. Right now I think it's 57% will see a higher tax bill and the average will be around $300. Since most have mortgages to pay through escrow hopefully it won't force many out but it's a possibility.

I'm worried about the opposite. Here where I live the county has basically flipped everyone upside down if the market goes along with the reval numbers. Peeps will be walking away because they can't sell but they have to move for another reason.

During my 17 years in New Jersey my property taxes increased every single year. Not once were they unchanged. But I never had an annual increase approaching 20%, let alone 26%.

It is a unique situation because of the time between revals and how crazy the market has been. It seems like a 26% annual because it's in one jump but really you need to average that out over 8 years to match a state that does annual increases. Of course if you haven't lived in your current house for 8 years it's even harder to swallow.