What Is Your Locality Doing About Property Assessments?

[1srelluc]

In my town/county property values have gone up 45-50% since 2019 (last assessment) and the supervisors are wrestling with what to do about it to protect our oldster population.

Small homes (around 1K sq ft) have gone up 55% due to rental speculation and that's what many of our long time older residents live in such as my Mom.

They are considering tier-ing the rates where older residents (say 30 years as a county resident) pay a lower rate than newcomers since older residents have had "skin in the game" and supported the community through their taxes for all those years.

 

[strollingbones]

my land and house value doubled..but here its a card game...raise the property values but lower the tax rate

much of the problem is simply new comers with money vs. locals without a big cash bank

my taxes do not pay for any real services....just fire department would come....we live on the 'creek' and as the high sheriff told my neighbor...."the creek takes care of its own problems" which is true

 

[1srelluc]

my land and house value doubled..but here its a card game...raise the property values but lower the tax rate

much of the problem is simply new comers with money vs. locals without a big cash bank

my taxes do not pay for any real services....just fire department would come....we live on the 'creek' and as the high sheriff told my neighbor...."the creek takes care of its own problems" which is true

Our problem is that we are 50-60 miles west of DC and NOtVA along I-66 so the transplants don't mind the commute one bit. They blow in and out of the county every five years or so.

 

[sparky]

My Q is the same as it was in '08

what happens when my place is worth 1/2 of what it was overnight?

~S~

 

[Moonglow]

I only pay $350 a year in property taxes here so it's not like they were high, to begin with, and they only went up twenty-five bucks.

 

[The Duke]

In my town/county property values have gone up 45-50% since 2019 (last assessment) and the supervisors are wrestling with what to do about it to protect our oldster population.

Small homes (around 1K sq ft) have gone up 55% due to rental speculation and that's what many of our long time older residents live in such as my Mom.

They are considering tier-ing the rates where older residents (say 30 years as a county resident) pay a lower rate than newcomers since older residents have had "skin in the game" and supported the community through their taxes for all those years.

Jackin' 'em through the roof falsely so they can overcharge on taxes.

Big banks managing rentals in the area doesn't help.

 

[White 6]

In my town/county property values have gone up 45-50% since 2019 (last assessment) and the supervisors are wrestling with what to do about it to protect our oldster population.

Small homes (around 1K sq ft) have gone up 55% due to rental speculation and that's what many of our long time older residents live in such as my Mom.

They are considering tier-ing the rates where older residents (say 30 years as a county resident) pay a lower rate than newcomers since older residents have had "skin in the game" and supported the community through their taxes for all those years.

While Madison Count, (for property Taxes) is ranked 2030th out of 3143 counties in the country, so better than 2/3 the country, property assessed values have gone up. Mine took a hit, but nothing to write home about. Brother-in-law, took a 60 grand hit on assessment. Not really that shocking, as he added a pool (bigger than mine) and a huge separate shop, garage. What was surprising were the two additional wooded lots on one side, both double in assessed value, though no improvements made whatsoever, and no way in hell those county lots, steep hill and wooded would bring anywhere near the new assessed value, probably barely what they were assess 10 years ago.

 

[DudleySmith]

Jackin' 'em through the roof falsely so they can overcharge on taxes.

Big banks managing rentals in the area doesn't help.

I have to contest the County appraisals nearly ever year here, every time some idiot house flipper over-pays for some shack they jack up taxes here. Meanwhile the big boys buying up rental properties always get big breaks in theirs; it pays to contribute to political campaigns at the local levels, too, not just for the Feds. It's a percentages game, since they can count on many small owners not knowing how to challenge appraisals and maybe 30% will bother, leaving them a hefty margin of people to scam. Most of it gets spent on cheap prices for sewer connections and nice roads and tax breaks for developers and their sub-division construction. One audit some years ago found poor people in the slums paying almost +50%-+100% the rates paid in the wealthy neighborhoods and new developments per sq, ft. along with higher school and other taxes as well. Time for another audit and some criminal fraud and bribery charges here again.

 

[1srelluc]

While Madison Count, (for property Taxes) is ranked 2030th out of 3143 counties in the country, so better than 2/3 the country, property assessed values have gone up. Mine took a hit, but nothing to write home about. Brother-in-law, took a 60 grand hit on assessment. Not really that shocking, as he added a pool (bigger than mine) and a huge separate shop, garage. What was surprising were the two additional wooded lots on one side, both double in assessed value, though no improvements made whatsoever, and no way in hell those county lots, steep hill and wooded would bring anywhere near the new assessed value, probably barely what they were assess 10 years ago.

Ha! You would not believe the lots they are building on now in my AO. I'd be afraid to go down the driveways least my brakes would fail and I'd careen on down the ridge.

 

[White 6]

Ha! You would not believe the lots they are building on now in my AO. I'd be afraid to go down the driveways least my brakes would fail and I'd careen on down the ridge.

Sounds cool. Figured you had a nice place. Don't letm' crowd you too much, big boy!