Posted on 05/15/2015 6:49:23 PM PDT by WildHighlander57
People should ask for reassessment, especially when home sale prices drop. When the market goes down. Often in these cases they will just redo it without a physical visit.
We got a written estimate for a new roof and a new electrical box. The assessor took it off because it was in writing. Get some written estimates. We still haven’t done the work.
Contested after the market fell.
I could suggest hiring a property tax challenging attorney who takes half of what he saves you.
Alternatively, for a do it yourself route:
Watchdog: My guide to lowering your 2014 property taxes
http://www.dallasnews.com/investigations/watchdog/20140508-watchdog-my-guide-to-lowering-your-2014-property-taxes.ece
> “In our situation I stated that we had had a significant decrease in income and stated that I could prove it with bank statements and income tax returns.”
That has no impact on your assessed taxes.
True but it has impact on the person reviewing the protest and it may play into the final decison. In our part of the world the local govermental authorities decide what toys they want to buy then soak the taxpayers with higher assessments to finance them....
I’m in a different state, but about ten years ago I was successful in getting a tax break when my house was in need of repairs and I was between jobs.
• I took photos of all the problem areas,
• put them in a PowerPoint presentation,
• took a few comparison shots of my neighbors’ better-condition exteriors, and
• a swiped a few digital images of neighbors’ better-looking interiors from houses for sale on Realtor.com, and
• made an appointment with the tax guy.
Took my computer in and ran through the PowerPoint, and he gave me a percentage off of the tax increase.
It took me about 6 hours all told, including the tax appointment. Well worth it.
The government needs to tax assets because it hires/employs many otherwise unemployable people to keep track of your assets. The employed unemployable people need to have money for food stamps and ball games.
Look for mistakes on your property appraisal card and chart, e.g. too much square footage, incorrect number of fixtures, etc., and locate comparable properties in the public records (got a 3 BR ranch w/o two Bath, 1500 square. feet? Drive around and locate what appear to be similar homes and write down the addresses) and don’t miss deadlines.
http://www.freerepublic.com/focus/chat/3290385/posts?page=4#4
Did you have to show estimates from a repair business to demonstrate how much you’d have to spend in order to get it to ‘market value’?
Mine are $5000 on 2600 sq ft on .26 acre, in town.
House built 1998.
No outbuildings or pool.
No improvements since moving in, except fix what broke (fences in common with neighbors & a couple hose bibs.
-PJ
> Did you have to show estimates from a repair business to demonstrate how much you’d have to spend in order to get it to ‘market value’?
I didn’t but I only requested that they keep the vaulation the same as from the year before. They raised the appraisal value of all properties across the board to fund the new toys they wanted for the school and for a new police department / justice center when they just put in a new one a few years ago...i mentioned that I attended the city council meetings regularly (which the chief appraiser and deputy tax collectot attend regularly too which means they would know me at least by face). Hey whatever works...
You will be told by the powers that be that your property tax is to pay for maintenance of your street, Trash pickup, Water and sewer, and the spectacular public education that your children are getting in the public schools.
Well, what if you live on a state highway that is paid for with state taxes, hire a private trash hauler, have a private well and septic, and don't have kids. Essentially you are subsidizing those that take the town services that you do not. In this case you should pay no tax and those who use the services should pay for that service they are using.
PoliticalJunkieToo
Are you in Texas?
In 2013 & 2014, they pegged it at what the seller asked for it back in 2012.... I paid less for his asking price in 2012.
The kicker is this year... tax folks tacked on 10% of sellers 2012 asking price to the value.
Jsanders2001
Are you also in Texas?
I think the repairs route may be a way to do it, to offset their ‘market value’ ....
FRmail welcome!
They jacked everyone in my street similar amounts, within a few %.
I looked up the county appraiser data and put into a spreadsheet and compared....
this time there’s not a big difference...
None of the exemptions apply.
TexasGator
What about the ‘get estimates and ask for reduction ‘ vs ‘get comps from Realtors’ ?
Realtors have no interest in reducing prices...
How do I get a market value lower than what they and the tax folks say?
Would the contractor estimate be a better route?
Not sure what you meant by ‘unless I had a defined error in market value’;
they claim my house is worth 10% more than last year and I only fixed what’s broken.
What if there -is- an error in market value because they were the ones who made it?
Your comment:
” Unless you have a defined error in your market value, one of the below would apply. Basically you would have to show that the house is worth less than their market value determination.
““value is over the market value, value unequal compared to other properties” “
Tbw2
That’s the article!
Please FRmail me info on the lawyers specializing in property tax.
If you have a disabled exemption the appraised value is capped. The value can go up but the taxes will continue to be calculated on the value it was when you got the exemption. My value increased 11% but the taxable value stayed the same. However....
If you are a disabled veteran with service connected disability your value for tax purposes is zero. You will pay not taxes period.
I just got that and I’m getting letters from the taxing authorities stating my taxes are zero so I can get the mortgage company to stop making me pay into an escrow account. The MUD and school district have already sent me the letters. Just waiting on the county’s letter then I’ll be sitting down with Wells Fargo.
One thing you will notice on your tax appraisal is the market value and the taxable value. The market value is going to be considerable higher. You will have to show that comparable houses in your area sold for less than your taxable value before you can get it lowered.
Just finished going through another protest but found out in our county you are better off if you go down and talk to someone rather than mailing the information in. Other things I found out in Brazoria County - two story homes will have comp rates slightly less than one story as one story is more desirable. Repair or replacement costs of privacy fence is no longer considered for any reduction nor is something like installation cost of a root barrier to protect your driveway or the foundation of your house.
Seniors in our county are really taking a hit this year. Our rates are frozen so the only way they can increase our taxes is to increase the value of our property. This ends up being doubly bad because it also increases the amount we pay for wind and property insurance. State legislature needs to start refunding money to property owners instead of giving more money to public schools and subsidies to wind farms.
Many thanks for the info!
Observations:
City says its taxable value & appraised value are same amount & it is $500 less than the market value.
Same goes for the community college.
The county pegs appraised value $500 less than market value, and then lowers it the 11.2k homestead exemption & thats the taxable value .
The school district pegs appraised $500 lower than market value, and then lowers it the 15k homestead exemption & thats the taxable value.
What taxable value do I use; there’s 3 different ones, depending on if its the city & college, county, or school district...
I guess I can grab the lowest and run with that?
And what to do about realtors’ stirring the pot so to speak.... claims of 2%the rise per month on house prices (???)
Basically 3 of the 8 houses (mine included) have hit the “homestead cap loss”... what are the implications of this?
Many many thanks for your info; FRmail welcome!
Didn't the tax people sick the code nazis on you?
Depends on where you live - in Mississippi, when you turn 65, your property taxes take a big dive. Ours will be going from 1400/year (still getting original homestead exemptions which take several hundred off it) to about $150/year...
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