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Pony up folks, everybody still feeling good about passing those bonds?
Yep, no concerns here. Happy to own property that's appreciating faster than average. That's why my taxes are going up significantly, not because of the bonds.
Quote:
Originally Posted by stradt03
is there an easy way to check what the 2019 assessed value was? I meant to log in and record but it slipped my mind.
Use this portal to find your new assessment. Once you pull up your record, there's a big "View Previous Values" button that shows you a nice side by side of 2016 vs. 2020.
No one knows what their next Wake County Property Tax bill will be.
No one who pays city taxes in Wake County knows what their bill will be.
I predict that tax rates will be lowered to compensate for the typical increases in tax values.
I.e., $1000 @ 1% rate is $100 tax bill.
$1200 @ 0.833% is a $100 tax bill.
Oh, yeah, I expect rates to be adjusted just enough to raise average bills by a few percent.
Maybe $1200 @ .875% and a $105 tax bill.
No one knows what their next Wake County Property Tax bill will be.
No one who pays city taxes in Wake County knows what their bill will be.
I predict that tax rates will be lowered to compensate for the typical increases in tax values.
I.e., $1000 @ 1% rate is $100 tax bill.
$1200 @ 0.833% is a $100 tax bill.
Oh, yeah, I expect rates to be adjusted just enough to raise average bills by a few percent.
Maybe $1200 @ .875% and a $105 tax bill.
We don't know exactly, but the revenue neutral calculator they provided should be a good estimate. Gives you a good look at how your share of the overall pie changed with the reassessment.
No one knows what their next Wake County Property Tax bill will be.
No one who pays city taxes in Wake County knows what their bill will be.
I predict that tax rates will be lowered to compensate for the typical increases in tax values.
I.e., $1000 @ 1% rate is $100 tax bill.
$1200 @ 0.833% is a $100 tax bill.
Oh, yeah, I expect rates to be adjusted just enough to raise average bills by a few percent.
Maybe $1200 @ .875% and a $105 tax bill.
This is the point that everyone seems to miss each time there's a reassessment.
It's like those people who complain that, after getting a raise, they'll make less money because they are bumped to a higher tax bracket, but I digress.
I'll add this point though: If your home is more rapidly accelerating in value vis-a-vis the average property, expect your tax bill to go up more significantly. If your home is appreciating more slowly than the average, your bill might actually go down.
When Wake County has reassessed in the past, haven't they always adjusted the millage?
It will be interesting to watch this process to its end. In the past, I haven't personally seen a wide variance in my tax bill from year to year, including those years where's there's been a reassessment. If my bill went up $105, it's no big deal. That's less than 9 bucks a month, or 30 cents a day. I think that I lose that sort of change daily by it falling out of my pocket when I sit down.
I am not opposed to taxation. It's what they do with the money that's a concern.
I would agree. However, in this case, we are talking about Local taxes which "should" be fairly micro targeted in their utilization.
I realize it gets a little murky here admittedly, given the more macro approach to schools (which in other locales, is typically the biggest consumer of local taxes).
But if taxation is the means by which I reinvest in my community; be it revamping downtown or building new parks (or in a world where I had my own town school, dumping money into that) I am all for investing in my community and kids (and my neighbor's kids and the kids across town).
I want to live in a nice area and nice areas cost money. If my other choice is say Henderson, where there is less tax base to work from and it becomes the land that time forgot, then the choice is easy for me to make.
Agree with those who have lived in Wake county a while. The tax you pay is directly related to the town and county budgets. The assessments are merely used to determine which properties pay a greater and lesser share based on their current relative value.
You can probably still read online the factors that influence your property value. Old houses are always downgraded by a “condition” factor which is purely due to age. Development within a mile is a factor though that raises value.
So if all properties go up 20% in value yet the budget stays the same, your taxes won’t change. It’s a pretty fair system imho.
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