Will property taxes go down if I bought a home below SEV and Taxable value?
I bought a hoem fore $103,500, the sev is $65,500 ($131,000) and Taxable value is $50,249 ($100,498).
Current taxes are:
Summer 2007: $1,378.95
Winter 2006: $600.94
I just bought this home and am closing on it today 10/22/2007. What are my estimated taxes on this home for future, like winter 2007? Millage is 37.
Will my taxes be lower because I bought the home at a lower price than the SEV etc...?
2007-10-22 01:48:48 · 2 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Dont' bet on it. You may have a claim to have the assessed value lowered based upon the sales price but you'll have to file an appeal to get any movement on that. It is NOT automatic!
Contact the tax district to find out what the appeals process and timeline is. In most cases the deadlines are cast in stone and if your appeal is late it will not be considered.
2007-10-22 02:13:57 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
In my area taxes are based on taxable value which the assessor determines based on comparable sales in the area.
Values should be going down everywhere. Dont count on your taxes going down a lot, if at all.
Your taxes based on current numbers you have posted are correct.
Good luck and enjoy your home.
2007-10-22 09:02:15 · answer #2 · answered by hirebookkeeper 6 · 0⤊ 0⤋