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Thanks for the input and you're right I shouldn't worry too much. I guess having come from IL where our taxes went up every year I felt a little unsure what it all meant in the long run. Still better than the $10,000/year we use to pay....
While paying the higher tax rate isn't a good thing, overall isn't still in your best interest to have an increase in your property value? Or is the evaluation it way off base?
Your property value is determined by what someone will pay you for it.
Wake County is NOT offering to pay you.
Quite the opposite, IIRC.
If you are assessed $25,000 below what you paid... upgrade your hockey tix in celebration...
Anyone know, does the documentation and appeal have to be post marked by Jan. 1? I have not done mine yet and do intend to appeal. Mine is 10k more than other larger homes in my area.
And also, if your neighbors tax assessment is less than yours, their homes are larger than yours, the land assessment is exactly the same for all, is it acceptable to print off the assessment from the Wake County Real Estate Data site and use that for documentation?
Your property value is determined by what someone will pay you for it.
Wake County is NOT offering to pay you.
Quite the opposite, IIRC.
If you are assessed $25,000 below what you paid... upgrade your hockey tix in celebration...
Thanks Mike....! As I said in OP, my brain is a little mushy and I just wanted to be sure especially since this has never happened to us before in the other areas we have lived.....
Anyone know, does the documentation and appeal have to be post marked by Jan. 1? I have not done mine yet and do intend to appeal. Mine is 10k more than other larger homes in my area.
And also, if your neighbors tax assessment is less than yours, their homes are larger than yours, the land assessment is exactly the same for all, is it acceptable to print off the assessment from the Wake County Real Estate Data site and use that for documentation?
Thanks,
toodie
That would be one good piece of information to submit. Sales or appraisal information is also useful if you or any of your neighbors had one recently and will share it. The more you can document the better, 1 house having a lower tax bill may not be enough. There could be reasons that you are missing for why it was lower.
As for the submission date, they suggest it get in by January 1st. From what Mike and I have gotten by phone/emails it seems they are flexible. The sooner the better... I am sure it will not be as thoroughly reviewed if it gets in way past the deadline, even if they do review it.
Thank you, Rcarrillo
I'm documenting all the homes in my neighborhood that have sold which are like mine (1 story), plus an appraisal I had done even though it's 6 yrs. old for refi, plus other homes exactly like mine that are being assessed at less.
I'm not taking any chances on the date. I'm putting together a nice little booklet and walking it down there on Monday. Hopefully they'll be open. Don't even know where it is, but I'll find out.
toodie
Thank you, Rcarrillo
I'm documenting all the homes in my neighborhood that have sold which are like mine (1 story), plus an appraisal I had done even though it's 6 yrs. old for refi, plus other homes exactly like mine that are being assessed at less.
I'm not taking any chances on the date. I'm putting together a nice little booklet and walking it down there on Monday. Hopefully they'll be open. Don't even know where it is, but I'll find out.
toodie
You are looking for the Garland H. Jones Office Building, NW corner of Salisbury St and W Martin St.
I went in and hand-delivered my appeal today. There was a pretty good line to the door of the tax assessment office.
Here's the scene of the crime, the Wake County Garland H. Jones Building, corner of W Martin St and Salisbury St. :
I didn't have all the fancy paperwork to submit (CMA, comps), so I didn't bother with the appeal.
However, somebody up there must have been looking out for me, because I got a letter dated around Feb 19 indicating that they had approved my appeal (I didn't even send one!) and lowered my assessed value significantly. I wonder if it is because my next-door neighbor submitted an appeal based on our "undesirable" lots. I am not complaining, though. I'm now assessed at $134/ft2. Did everyone else get adjusted appropriately?
I didn't have all the fancy paperwork to submit (CMA, comps), so I didn't bother with the appeal.
However, somebody up there must have been looking out for me, because I got a letter dated around Feb 19 indicating that they had approved my appeal (I didn't even send one!) and lowered my assessed value significantly. I wonder if it is because my next-door neighbor submitted an appeal based on our "undesirable" lots. I am not complaining, though. I'm now assessed at $134/ft2. Did everyone else get adjusted appropriately?
So that's how it works?
I went down in flames, and there is absolutely no market data supporting my assessment.
Maybe if my neighbor had appealed?
In training for Round 2...
I didn't have all the fancy paperwork to submit (CMA, comps), so I didn't bother with the appeal.
However, somebody up there must have been looking out for me, because I got a letter dated around Feb 19 indicating that they had approved my appeal (I didn't even send one!) and lowered my assessed value significantly. I wonder if it is because my next-door neighbor submitted an appeal based on our "undesirable" lots. I am not complaining, though. I'm now assessed at $134/ft2. Did everyone else get adjusted appropriately?
We got ours reduced by about 8% by appealing. We submitted Wake Co tax site print outs for recent home sales in our neighborhood as well as listings in our neighborhood for homes like ours. We also wrote a cover letter explaining the data we were submitting. In our letter, we asked for a ~11.5% decrease in the assessment based on the comps. But we're happy with the 8% reduction.
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