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The ASSESSED VALUE of your home is NOT the MARKET VALUE. Therefore, do not think that this is what your home is worth.
The new tax RATES won't be determined until spring so you won't know if your tax bill will go up. Typically, it is a small increase.
10% tax increase last year is little? It was for the schools though, which we know 100% of that money will be used for it's intended purpose
Also that small increase will be much larger with the new assessment. The county is setting it up to start generating a lot more money in taxes over the long haul. This year probably wont be much but my guess is next year will be higher once the shock of the new assessment wears off. It will continue to climb. Don't worry everyone, just keep voting the same way. Once our area becomes unaffordable you can just move onto the next state with low taxes and ruin that one.
$1850 in 2007 adjusted to today’s dollars is about $2350, so the $2800 figure would be about 19% in real dollars. Without knowing how that particular home appreciated relative to the average appreciation in the country, hard to draw any firm conclusions.
10% tax increase last year is little? It was for the schools though, which we know 100% of that money will be used for it's intended purpose
Also that small increase will be much larger with the new assessment. The county is setting it up to start generating a lot more money in taxes over the long haul. This year probably wont be much but my guess is next year will be higher once the shock of the new assessment wears off. It will continue to climb. Don't worry everyone, just keep voting the same way. Once our area becomes unaffordable you can just move onto the next state with low taxes and ruin that one.
Thankfully we have some time, given places some of us "ruined" like MA, RI, NH, OH, NY, CT, IL, NJ have property tax rates ranging from 42% higher (MA) all the way to 184% higher (NJ).
How can a 2400 sq ft home that was recently completely renovated in N Hills- Collingswood and Wimbledon area in particular, be valued at $112k while my 1000 sq ft home is valued at $114k? I see that they are giving the land more value in 27609 but that is WAY less than what the building values should be in that neighborhood.
define "recently" in "completely renovated" - 2018? or since? did it sell upon renovation? were all the appropriate permits filed?
I reviewed several of the North Hills homes in the Collingswood, Wimbledon area. This does not appear to be a mistake. All of the homes that I looked at that were not new construction, are incredibly under valued! Take a look. When asking the county about it, they did not answer my question but instead mentioned the appeal process. .
are you saying because other homes are undervalued, you want your value dropped?
Unless they've changed again (and I don't recall this tax calculator being available before), the appeal is basically limited to:
They've overvalued your house because...
1. Their information is incorrect - your house is NOT as large as they have it listed.
2. The effective grade they assign is too high.
3. They somehow got your lot size wrong.
4. the value of your lot is too high because of some utilization issue (odd shape or maybe you've got a creek running through the middle, and so not worth as much as the teardown 3 doors away).
It really is simple:
Would you sell your home for the tax value?
a. if "hell yes, it's crazy high!!" then dispute it.
b. if "my house is worth more than that, but I disagree for any of 1,000 reasons" then DON'T.
After the most recent county-wide appraisal I observed that the land value for every lot in my subdivision was identical. That seemed wrong because some lots were larger than others. Considerably larger.
I appealed in writing and subsequently appeared in person to make my case. My appeal backfired! The entire subdivision was re-appraised and most land values were increased!
define "recently" in "completely renovated" - 2018? or since? did it sell upon renovation? were all the appropriate permits filed?
This house in particular was purchased for below market value in 2015 for 225k. Permits were pulled, they remodeled interior to change it to an open floor plan on main level, finished the basement, added bathroom(s, I think expanded the master and added screened in porch plus deck. It's beautiful on the inside. This is a relative's house. I may be a little bitter because I know his house is worth a lot more than my tiny home, but the county says my 1000 sq ft house is valued more than his but his 0.25 acres is worth $200k more than my 1.28 acres. The county responded to a question I asked yesterday and they said the land value plus building value should be the current market value for each home.
Saw the value on my house and it went up a bit over 21%. Will be interesting to see if the actual tax increase is similar to the projected amount according to the nominal tax calculator.
Saw the value on my house and it went up a bit over 21%. Will be interesting to see if the actual tax increase is similar to the projected amount according to the nominal tax calculator.
My assessed value went up 34.4%, with a projected tax increase of 13%. Hope it doesn't come in higher than that!
Purchased end of 2018 in a new development, but then sales slowed. Prices were lowered in the 3rd and 4th quarters of 2019 to sell the units. Comparable units have sold in Nov/Dec2019 at what I paid or even a couple thousand less. However, the county has increased my assessed value $15k, probably based on homes that closed in February 2019 (right before they started lowering prices). I can name the lower cost units and prices, should I try contesting with the county?
nope
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Real Estate tax appeal backfired
