County calculations of total value increases

[BrianTH]

That's a bit misleading in that a lot of these overassessed lower-value properties owners are nonetheless due for a tax cut after applying the anti-windfall laws, which is one of the implications of the 2002 numbers being even worse by this measure.

But in any event, the basic point stands--systematically overassessing lower-value properties can have the perverse effect of amplifying the underinvestment in economically distressed neighborhoods, creating a vicious negative feedback loop.

[gg]

I find myself having mixed feelings over the super cheap homes having a little higher assessments. Those homes having true market value of around $20K or something that cheap in and around the city with new assessments at a higher rates could be okay. I mean the property owners have left them go so bad they have such a ridiculously low actual sales value, should they be rewarded, while others have maintained their homes and worked hard to keep them in better condition? Homes that have true market values in the $20K range or even lower, are no doubt in horrible condition and some may even need to be torn down. Having a little higher tax bill, may force some sales and maybe some new owners will come in and actually care about the homes. On the other hand, market value is market value and if a home is worth $300K or whatever, I guess it should have that value attached to it. Sadly there are plenty of people that have put a lot of sweat into their homes that will no doubt also be forced to leave them due to tax increases. The tax for the middle class people are usually the worst situations. Many middle class people cannot afford a $10K tax bill a year to live and that is what many are facing. Around a grand a month is enough for many to have to leave areas and relocate to other less desirable areas and that might have kids having to relocate to different school districts.

It is a big puzzle and seems for the most part to be some wild mess. I don't think the way these assessments are done is at all accurate. Not taking in consideration of current sales prices, means the assessments are totally inaccurate in many cases.

[jimmyev]

Originally Posted by h_curtis

Homes that have true market values in the $20K range or even lower, are no doubt in horrible condition and some may even need to be torn down. Having a little higher tax bill, may force some sales and maybe some new owners will come in and actually care about the homes.

Ummm, no. Brick-on-block Craftsmen-style homes circa 1910-1925 in fairly decent condition routinely sell, if they can be sold at all, for under $25K merely because of location. The county inflating the value just deludes some people into thinking that their inherited homes are worth far more than they could ever sell them for. "Oh, we can easily get $55K for Grandma's house. The county assessed it for $65K." Then it's vacant for three years, turns into a crackhouse, and further erodes the neighborhood.