2006-06-26 05:09:59 · 16 answers · asked by craftyone 1 in Business & Finance ➔ Renting & Real Estate
Its called a re-assesment.
2006-06-26 05:11:40 · answer #1 · answered by huh? 3 · 1⤊ 0⤋
The city/county sends out an adjuster every so often to reevaluate property for the purpose of taxes. If the adjuster deems it appropriate by the condition of your home and other homes in the area, the value tends to go up. Though, when you bought the home it may have only been worth $70,000; the adjuster may deem that its actual value may be $100,000. Which in turn means that the value of your home now has to pay additional taxes in order to cover its value. Usually every 2 years or so they do this type of adjustment. There is no way of disputing this claim. The only thing that you are able to look at is the fact that you now own a home that has an appreciated value at more than what you actually paid for it. (the above numbers are just an example)
2006-06-26 05:15:28 · answer #2 · answered by navymilitarybrat76 5 · 0⤊ 0⤋
Did you just move in? Most states are only allowed to raise the rates XX percentage points on current homeowner. Let's say the guy before you was there for 20 years, and his rate could only go up 2 percent a year. Well now you come along well you are new so now the city/county/state gets to catch up on all that missed property tax over the past twenty years.. Get it??
There is nothing you could do about it.
2006-06-26 05:15:44 · answer #3 · answered by JDINFLA 3 · 0⤊ 0⤋
It means your house is assessed at a value higher than what you paid for it. Look at the value of the proportionate homes (including the property) around you and see if the value that they are being taxed is comparable. A lot of counties have web sites for the county appraiser office. If the amount is not equivalent then get a private appraisal. If you're still not satisfied with your assessment take your case to your county appraiser. Good luck.
2006-06-26 05:18:57 · answer #4 · answered by pottersclay70 6 · 0⤊ 0⤋
If you just bought it, you have an argument. If you bought it a few or many years ago, the taxes are bases on the assessed value, not what you paid for it. And if you bought it in a "sweetheart" deal for less than fair market value, even recently, again, the taxes are based on fair market value, not what you tried to use to get out of paying taxes.
2006-06-26 05:15:15 · answer #5 · answered by thylawyer 7 · 0⤊ 0⤋
Just like Elton John's House it was appraised by the state much higher than what it could sell for. You should appeal it. I know it will probably cost you but you should also hire an appraiser and get an appraisal. Make sure the company is repatatble.
Good Luck, dont feel to bad we all get scammed by Uncle Sam!
2006-06-26 06:05:32 · answer #6 · answered by bunnicula 4 · 0⤊ 0⤋
seems you're a widely used provider provider, and your income might want to were taxed. The tax authority (HMRC) would nicely already learn about your price reductions account, and they are going to understand in case you purchase a storage or an y different resources - so convinced, they'd commence pulling you aside and convinced, you'd be in serious problem. in case you want to be optimistic of warding off the worst of this extremely nasty experience, come sparkling. i do not recommend laundering the money both. that's even riskier than tax evasion and would a lot extra intense priced to be stuck.
2016-11-15 06:55:08 · answer #7 · answered by ? 4 · 0⤊ 0⤋
Most houses are worth nearly twice the taxable value... You should be happy, you probably got $60,000 more house than you realize. Get a appraiser to look it over, but it sounds like a good thing to me.
2006-06-26 05:20:12 · answer #8 · answered by BORED AT WORK 5 · 0⤊ 0⤋
sorry, same here.. I got a good deal on a parcel of land, sub contracted out the building process to save $... Then tax time came.. My mortgage for $85k...Taxed at $140k based on square footage and # of rooms.
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Thanks government....
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There are a lot nicer homes than mine in the area that pay a lot less taxes because they are a little older or smaller......
2006-06-26 05:19:26 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Sounds like the market value of your house has gone up. Yeah you have to pay high taxes, but if you were to sell your house you could ask for $30,000 more for it than what you paid for it.
2006-06-26 05:13:13 · answer #10 · answered by overlord_1138 4 · 0⤊ 0⤋
It seems you may have gotten a good deal on the purchase of your home. I am wondering if you are taxed at the value of your home and not the purchase price some states do that
2006-06-26 05:13:02 · answer #11 · answered by nastaany1 7 · 0⤊ 0⤋