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I checked the value of my old house and there are some houses that have sold that low, but they aren't true comps all things considered. There are plenty of others that have still sold for way more.
Just received notice the county reduced my property taxes by 16% and lowered the value to 258K.
Happy for the lowered taxes,but amazed at the drop in value. Always thought I could sell the house, move to cheaper state and have some change left over. Guess I will have to rethink those plans.
I am afraid you are not alone in your miscalculation. There is a lot of wishful thinking and denial concerning the present (and near future) price of housing value here on Long Island. Sales are based on the market and the market on housing is down (of course I am speaking averages and of course life is full of exceptions to this general trend and rule).
If you are thinking of selling your house in two years, I wonder if it is smarter to sell now (your property taxes will go up in the next two years and the price of comps in your neighborhood may very well go down)? Could this be the basis of a new and truthful sales pitch along the lines of "Hey, sell now because it is going to get worse"
Wow...did not affect us or our appraisal at all 2 years ago. Was off by $200K.
Mine was off too but I can't remember exactly. I think somewhere around $150K. It didn't hurt us either - we still got the price we wanted. I think we both got off the island at a good time!
Mine was off too but I can't remember exactly. I think somewhere around $150K. It didn't hurt us either - we still got the price we wanted. I think we both got off the island at a good time!
Yeah, I knew that was the year to get out, especially before the taxes went up anymore.
Suffolk hasn't changed in 2 years....at least where I am. Hopefully it stays like this then start with a 2-3% yearly increases. I think with almost all the schools trying to meet the 2% tax increases that things will settle out and move onward and upward, slowly but surely.
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