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If you're pulling permits, yes the home will be re-assessed!
So is it better to ask for a re-assessment now before we do any work and the house is clearly not worth what they assessed it for in its' current condition?
Also note for the future: since you are doing major work, if there is a feature of value that was there in the house when you purchased it, and if you demolish that feature, you can ask to have your assessment lowered. I just went through this. I demolished an in-ground swimming pool. Since it was a permitted process, the County received copies of the work and sent me an inquiry letter---fishing for a higher assessment. So I asked if I could get a lowering based on the same reasoning. The County Assessor determined that my house is now worth almost $30k less. Every little bit helps!
There's just a fireplace, and we're not destroying that!
May I ask about the opposite? What is the asking price was $150k but the tax assessment was $100k. Would you lower the offer taking into account the lower assessment?
Thanks everyone! If I question is, does that ever backfire and have your taxes raised, or do they punish you in some fashion for asking about it? We were warned not to ask the township too often about the status of our permits, or they'll put you at the bottom again! We closed in mid-January and are still waiting to get the house energized so we can start work.
Sounds like they are running a criminal enterprise. Dispute the assessment, you have nothing to lose. Worst that can happen is you end up paying what they are telling you that it's worth.
Around here they simply change the assessed value to whatever the selling price of the home was. It took 4 years before it happened to me. I fought it, and the assessor told me his results are always considered right and I would have to prove him wrong. Of course I lost.
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