Anyone ever appeal their property tax assessment and win?

[Bugzilla]

My question is: once the housing bubble bursts in a couple years, will tax assessments drop commensurately?

Can’t decide which response is the correct one:
What drugs are you on? or
Are you f’in nuts?

 

[Ingomike]

Are you aware that flippers are buying new construction homes from production builders and selling them as soon as they are completed for $50,000-$100,000 more than they paid the builder? It really can change a lot in 6 months…

BTW, this activity was part of the precursor of the downturn, just saying…

 

[churchmouse]

Our district was targeted for an increase (as told by the gal at the government building). They have a form online you have to fill out to appeal. Moved to my home in 2019 and have had to appeal every year. Successful each time.
Just got another one for this year. This should be fun. The last round I had to prove they were wrong. We had refinanced in October and got a professional assessment per the process through the bank. The assessment was substantially lower that the state's numbers. The appeal was taken care of in January. Fast forward to the current paper: How my recent assessment go up $40k+ in a few months?

I'm going to request a meeting in front of the board for a detailed explanation if his numbers. That usually backs the dogs off. They don't like having to justify their numbers having never set foot on my property and being shown by a professional they were grossly incorrect.

Post #18.
Pound of flesh.

 

[Ingomike]

Fortunately they aren't using Zillow's valuation as that is up ~45%.

Even Zillow found out that their valuation is garbage.

Zillow plunges 25% to lowest since July 2020, after company exits home-buying business

Analysts slashed their ratings on Zillow on Wednesday, a day after the company said it will no longer buy and sell homes because of unpredictable pricing.

www.cnbc.com

Others are not doing well either…

Opendoor loses more money than Zillow in 2021 - HousingWire

Opendoor reported losing $662 million in 2021. The company also told investors on Tuesday that it has $5.7 billion in unsold real estate inventory.

www.housingwire.com

DO NOT TRUST THE VALUATIONS OF INTERNET COMPANIES…

That unsold inventory will be dumped at some point taking your equity with it…

 

[Destro]

What did it show up as? I don't see any mention of it, but the Township rate jumped by 5x.

You should be able to see the difference in your actual tax rates vs. the previous year. Your bills should break them down.

The assessment is the overall value of the property, the rates are the % of that value you pay yearly as taxes.

Sent from my SM-A515U1 using Tapatalk

 

[Jaybird1980]

You should be able to see the difference in your actual tax rates vs. the previous year. Your bills should break them down.

The assessment is the overall value of the property, the rates are the % of that value you pay yearly as taxes.

Sent from my SM-A515U1 using Tapatalk

Yeah i can see the difference. The only rate that changed significantly was the Township Rate, it is 5x higher than last year's. I don't see any mention of the fire territory, I'm assuming that's the reason for the township rate change.

The assessment did go up also.

 

[mmpsteve]

snip ...

How my recent assessment go up $40k+ in a few months?

Maybe they monitor INGO and saw your new 'safe room'.

.

 

[edporch]

A good place to start is to look it over for mistakes in the description of the property and improvements.

Several years ago I noticed on my parents assessment that it listed they had central air conditioning and a garbage disposal, which they didn't.

They were up in years so I walked up to the Jasper County Courthouse on their behalf and pointed out the errors.
They changed the assessment without any argument.

 

[Pepi]

45 percent on mine. Appeals are like pulling teeth

 

[dieselrealtor]

I met a "county" appraiser several years ago, after talking with him a few minutes I understood why assessments were so incorrect.

I looked through my recent assessments, the assessment went up 110% from last year on a commercial property I have.

When making an appeal, being polite and respectful are going to benefit greatly. Have fresh market data with you.

It is time for a great reset, just not the one that is being discussed.

 

[mom45]

What did it show up as? I don't see any mention of it, but the Township rate jumped by 5x.

Which township are you? I know the fire territory in Knox failed to pass but the one in the Hamlet area passed.

 

[ancjr]

We just received our new property tax assessment and let's just say, No ****ing way. The 2021 assessment was about what the asking price for the house when we bought it in September. We paid about 7% over asking price. The new assistant is a full 35% higher than the 2021 assessment.

There is a service locally that will fight this for us. It's under $200. But has anyone ever done this themselves and been successful? How hard is it? What needs to be done? I have no clue about this but if it's just a few forms and explanation, I'd attempt it myself.

I pointed out on my bill that it shows several buildings which are no longer there and the assessor's office fixed it, no problem. To my astonishment, mind you.

 

[Jaybird1980]

Which township are you? I know the fire territory in Knox failed to pass but the one in the Hamlet area passed.

Center. I didn't even know they were doing it for Hamlet.

 

[mom45]

Center. I didn't even know they were doing it for Hamlet.

I don't think yours passed then so that isn't it. Davis was definitely included. We are in Washington so we missed it.

 

[Jaybird1980]

I don't think yours passed then so that isn't it. Davis was definitely included. We are in Washington so we missed it.

I just looked and Knox's didn't pass. I only seen where Hamlet's was going to a vote and didn't see any updates anywhere. Now I'm curious why it went up.

 

[dudley0]

Some of my rentals went up to more than I could sell them for even in this inflated time.

Grabbed the page from assessor's office site and will start going thru the ones that are crazy high.

Problem is I used to use comps that my realtor would supply. I can't do that now as people are getting much more money than housing is worth. While I know this is what the assessments go off of it will hurt me and thus I will have to make an additional rent increase which will hurt my tenants.

This stinks for sure. I don't try and get full market value rents as I see them as too high. But with taxes, insurance, materials and now even labor for stuff I can't do it is forcing my hand.

My personal property went way up as well, and I haven't done anything to it in well over a year, besides mow the grass

 

[Ingomike]

Some of my rentals went up to more than I could sell them for even in this inflated time.

Grabbed the page from assessor's office site and will start going thru the ones that are crazy high.

Problem is I used to use comps that my realtor would supply. I can't do that now as people are getting much more money than housing is worth. While I know this is what the assessments go off of it will hurt me and thus I will have to make an additional rent increase which will hurt my tenants.

This stinks for sure. I don't try and get full market value rents as I see them as too high. But with taxes, insurance, materials and now even labor for stuff I can't do it is forcing my hand.

My personal property went way up as well, and I haven't done anything to it in well over a year, besides mow the grass

We are in a housing shortage, apparently others believe that housing is worth what they are paying for it and we all pay property taxes based off of what others pay, even if we made no changes. It is admirable you want to keep your rents low but you must come to terms with the current market or you are the one getting hurt…

 

[dudley0]

I will still try and appeal what I can.

My main reasoning is that not everyone got the high paying, low skillset jobs.

While I want to keep things low I do not plan to eat the difference, which in years past I have done.

The only good thing about people paying too much for too little in housing is that once the bubble bursts I hope to fly in and pick up some places on the cheap. Patience and all that.

 

[Pepi]

Just causing more inflation to our country

 

[hoosierdoc]

On new castle our was assessed for 15% more than we paid on open market in 2004. I challenged it to be reduced to sale price and assessor refused.

Him: what is your house really worth?

Me: what someone will pay me for it

Him: (pause) no, what it will cost to replace.

Nonsense.