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The county increased the tax rate when the assessments went down, but I ended up paying less this year than last. The assessments seem to be leveling off, so I don't expect much of a difference next year.
So your telling us you are now tax exempt.. Lucky you..
Mine went up, will be appealed this year, they are about 40% higher than they should be, but thats because I underpaid for my home and will use the sales price vs the appraised price to justify a drop.
Location: 3.5 sq mile island ant nest next to Canada
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Mine have gone up here for the last few years. But, oddly enough, so has the cost and price of supplying the services I have come to expect from this small town. Police and fire protection, street lights, fire hydrants. My street gets plowed every snowstorm sometimes more than once and quite early in the morning so it is clear when I have to go to work. Imagine. I have to help pay for that just because I live here
Actually, if all houses are dropping in value or all are going up in value, it should have no bearing on the $$$ amount of your property taxes. Whether your local govt or local school districtis is raising its budget or lowering its budget is what really should determine ones taxes.
A much more reasoned insight that any previously appearing in the thread. Property taxes are the primary means by which whatever local government funds its provision of services to the public. The cost of providing such services goes up over time due to population increases and inflation. If the sum of all assessed property values within the jurisdiction is for whatever combination of reasons rising faster than the rate of inflation plus population growth, then the tax rate necessary to break even against rising costs will fall, and the government will have room to enact a rate cut. If on the other hand the sum of all assessed values is for whatever combination of reasons changing at a rate that falls short of the rate of cost increases, the government will have little choice but to enact a rate increase rather sooner than later. It is indeed the costs of providing services that drive the system, hence the need to maintain budgetary balance with respect to those services is what people should be considering.
At an individual level of course, some assessments will fall in a rising market, and some will rise in a falling market. Particularly in the latter situation, there will always be those selfish whiners who will complain that some form of outrage is going on. They can be counted on to whine of course, and also to try to skip out on paying their fair share of local government costs. The country does not, to this point at least, face any significant shortage of freeloader wannabe's...
mine has gone up slightly and will do so again next year.
Actually, if all houses are dropping in value or all are going up in value, it should have no bearing on the $$$ amount of your property taxes.
Whether your local govt or local school districtis is raising its budget or lowering its budget is what really should determine ones taxes.
I think you missed the point. Counties had NO problem raising taxes as property values increased. In our areas we even had school districts appeal to the local county to ask that certain individuals taxes be raised because they were under assessed. If the county is going to automatically raise them in good times, then its indeed a fair question if they will lower them automatically in bad times. The main difference is the tax rate didnt change but the property values did resulting in an increase in ones tax liability. Now the reverse needs to happen, the assessment needs to be lowered and the tax rate increased. Net difference should be zero, but without this "automatic" adjustment which almost takes place anywhere, it allows individuals who take action to lower their taxes to take advantage of those who are to foolish not to.
Our county went through great lengths to reassess everyone (YES EVERYONE) to increase the amount they paid in good times, can we expect them to go through and do the same during the slump? NOT..
Quote:
Originally Posted by saganista
A much more reasoned insight that any previously appearing in the thread. Property taxes are the primary means by which whatever local government funds its provision of services to the public. The cost of providing such services goes up over time due to population increases and inflation. If the sum of all assessed property values within the jurisdiction is for whatever combination of reasons rising faster than the rate of inflation plus population growth, then the tax rate necessary to break even against rising costs will fall, and the government will have room to enact a rate cut. If on the
other hand the sum of all assessed values is for whatever combination of reasons changing at a rate that falls short of the rate of cost increases, the government will have little choice but to enact a rate increase rather sooner than later. It is indeed the costs of providing services that drive the system, hence the need to maintain budgetary balance with respect to those services is what people should be considering.
At an individual level of course, some assessments will fall in a rising market, and some will rise in a falling market. Particularly in the latter situation, there will always be those selfish whiners who will complain that some form of outrage is going on. They can be counted on to whine of course, and also to try to skip out on paying their fair share of local government costs. The country does not, to this point at least, face any shortage of freeloader wannabe's...
We knew sag would come along to argue for taxes and claim one is selfish for complaining about paying them.
The point is valid, if the property values go up, and your taxes go up, questioning the opposite is true. Values go down, ones taxes should, thereby needing the tax rate to go up which if done properly results in a net neutral tax affect. The fact that governments went out and spent the surpluses they received in good times, and thereby "NEEDS" the money to continue to operate adds nothing to the equation, and its not my fault if the govt has to live on less during the times that WE ALL HAVE too. You somehow think governments are exempt from economic cycles and the only one that should feel the pain is the taxpayers.
Your argument would be like claiming that an individual who made $100K last year and had their salary dropped to $50K this year, should pay the same amount in taxes because the government needs "their fair share"...
i'm there with you doc. I'm about to close on a house and found out that the property is due for reassessment by the end of this year.
Make sure you keep copies of your appraisals.. I had 4 of them done when I bought my last house, wanna bet what one I use during my reassment appeal to lower taxes? Can guarantee you it wont be the highest one..
If your houses are worth less now than a year or two years ago, have your property taxes gone down?
I caught the very tail end of Rush Limbaugh talking about this on the radio but did not catch the discussion on it although I did hear him say it's really about them taxing you for as much as you're willing to pay.
But now you have a new Governor. Do you think that is
going to change?
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Can guarantee you it wont be the highest one..
