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recently petitioned the city for a property tax reassesment, come to find out they overly appraised my house by over $50K. Ive been in the home for just over a year, my taxes next fiscal (starting in September) year will be approx $180.00 cheaper per month.
However, Ive been paying the increased amount for approx 9 months; my mortgage payment went up about 180 dollars after the first 3 months when my mortgage company said they had initally under-estimated the escrow amount and had to make adjustments. I'm assuming they were using the correct market based value initially but changed it once they received the city's assesmnet and tax bill. the reassesmnet window is quite small in my city so I couldn't ask for one until recently.
the question is: how can I retrieve moneys overpaid (almost $1,800)? I'm assuming small claims court is probably the only option. Has anyone ever tried to sue their municipality in small claims court?
Ive been in the home for just over a year,
Ive been paying the (previous assessment based) amount for approx 9 months;
my taxes next fiscal (starting in September) year will be approx $180.00 cheaper per month.
The tax assessment amount was right there on the mls when you looked to buy.
You didn't check/ask/know what the taxes were before you bought?
did you not read what i posted?
At closing the taxes were lower than what i eneded up paying 3 months after i moved in. Then the mortgage company changed escrow, at which time it was too late to petition for a reassesment.
So lets be rational, mr rational. If the city admitted it over-valued my home for property tax purposes, why would there be no form of recourse for the months i paid the higher rate?
At closing the taxes were lower than what i eneded up paying 3 months after i moved in. Then the mortgage company changed escrow, at which time it was too late to petition for a reassesment.
So lets be rational, mr rational. If the city admitted it over-valued my home for property tax purposes, why would there be no form of recourse for the months i paid the higher rate?
The mortgage company's escrow calculations do not influence the tax assessment valuation made by your local taxing authority. You've got the direction of causation backwards.
Mr Rational is correct.
Last edited by LOL_Whut; 08-05-2013 at 01:24 PM..
Reason: typo
Sorry, but you are wasting your time. Just be happy they adjusted the appraisal for you.
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