heiNey[at]usenetserver.com (heiNey[at]heiNey.net) wrote in news:kln3j.11$eS6.3
[at]fe195.usenetserver.com:

- quote -

I think just about every state/tax jurisdiction does it differently.
But I think it is common that the proposed assessments are completed
on a schedule and notice provided to property owners. Then there is
a process and a time window you must follow to reclama the valuation.
You should also be aware of any other special requirements, for
requesting homestead exemptions or other special provisions. (For
example, I have property in CA which is capped by prop 13). Things
can be in flux, such as with "Save Our Homes" in FL.

If you used a real estate agent when buying and had a good experience,
you might want to call him/her for any advice. Real estate
uses networking and client referrals extensively, and agents
keep on top of the real property tax situation so probably
would be happy to discuss things with you.

scott s.
..

NadCixelsyd wrote:

- quote -

see my response just above and tell me what you think.

ChEAr$,
Harlan Lunsford, EA n LA

On Nov 28, 7:58 pm, hei...[at]usenetserver.com (hei...[at]heiNey.net) wrote:
- quote -

Your state may be different: In Massachusetts, there are two reasons
for abatement: valuation too high, and disproportional assessment. A
30% reduction in value is a bit hard to swallow so you're going to
have to show some pretty good sales of comparable property. In MA,
the property value set on January 1st is the basis for the tax year
beginning July 1st, 6 months after the valuation date.

As a former tax assessor, we did have a few extra abatement
applications when property values dropped. We rectfied this by
reducing everyone's assessment by a fixed percentage. We have since
shifted to a re-valuation annually so this is not done now.

Harlan Lunsford wrote:
- quote -

Nevertheless, it's a routine practice in California, and requests for
reassessment are routinely granted when appropriate comps are cited.

heiNey[at]heiNey.net wrote:
- quote -

As a practical matter however, consider that even if it's not too late
to request reassessment, I doubt the authorities would consider it,
since to do so, in light of today's lower market values, would open the
flood gates to people all over the county requesting revaluations. And
that in turn would drastically decrease county revenues and produce
budget shortfalls. Government workers would be laid off. they couldn't
buy stuff and the local economy would collapse.

ChEAr$,
Harlan Lunsford, EA n LA

- quote -

Executive summary: no.

Remember, the way your municipality sets the tax rate is to pass the
budget which includes the total tax levy, then divide the levy into
the total assessed value of the municipality, and that's the tax rate.
What really matters is the relative assessment of your house compared
to everyone else's. If everyone's assessment were cut in half, your
taxes wouldn't change at all, since they'd have to double the tax rate
to compensate.

As others have noted, by the time your tax bill shows up it is far too
late to challenge your assessment, but if you want to do it for next
year, what you need to do is to find some comparable properties that
are assessed lower than yours, so you can argue that yours should be
reduced to match theirs. If you just show up and say "My house isn't
worth $565K," they'll say "Yes, we know. So what?"

R's,
John

heiNey[at]heiNey.net wrote:
- quote -


The county assessor annually publishes the roll of assessed
values. The owner is notified and on the notice the assessor
usually specifies the period of time that the owner can contest
the assessment. Usually, this requires a formal application. In
many jurisdictions, if one misses the deadline for contesting,
there is an appeals process. This process also will have a filing
deadline.

Best advice: contact the assessor's office and obtain information
on the process and the necessary forms.

heiNey[at]heiNey.net wrote:

- quote -

I'd first suggest you find out the cycle your town uses for evaluation.
It's likely less than annually. Even so, if the value of all homes in
your town have dropped 30%, you are not likely to get a reduced
assessment. If everyone's home were reduced that much, the town would
then have to raise their mil rate by an amount to compensate and keep
their revenue level.

If you wish to pursue this, contact the assessor's office and ask what
their appeal process is. You usually have a certain time of year to
request an appeal.
JOE

Hi,

I have a question regarding property taxes. Currently my tax bill
comes home and states that the FULL VALUE of my home is $565,590 and
my total taxes come out to roughly $7,700. Since the housing market
is so bad right now, and the value of my home is nowhere near the
$565,590, is there any way I can reduce my property tax? If so,
could someone please point out the steps that I must take in order
to do this? I don't think I should have to pay this much tax when
my house is valued at roughly $400,000. Thanks for any advice!


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