Tax assessments?
 

Since the real estate market has been going down, I was wondering how it has affected your real estate assessments. Mine came in the mail today. It was $100K lower than last year's! Woohoo!

I'm not trying to sell mine right now, so I don't really care. Now, let's see if the county raises taxes . . . .

Mine went down a smidgen.....

We JUST had the assessor do their every 5th year walk through so I don't have the numbers yet. Although the assessed value has been considerably lower than market value anyway.

They reassess us here every year. Maybe they'll slow down now that the market has cooled off so much.

I guess I should say they're required to do it every 5 years here, I guess there's nothing keeping them from doing it more often. They haven't in my 10+ years in the house.

Well, around here in Knottingham Forest, the Sheriff comes round EVERY year to raise the taxes . . .

Boy,,, are you guys lucky. We haven't had a reassesment around here since the 60's I believe.

Well, you probably WOULD if you didn't sit on your front porch with that double barrel shotgun laying across your lap . . .

Same here. Last re-assessment was in 1972. I'm not sure they are lucky, my assessment is quite low as my house was built in 1971.

Don't worry.... They will jack up the rates

My county is under a lot of pressure to re-assess because newer houses, and there are many, many newer houses, are assessed at a higher dollar figure than older houses. The county has countered that pressure by claiming the problem is not assessments but property taxes in general. There is considererable support for eliminating property taxes completely and replacing them with other, supposedly more fair taxes. Being a retired, single home owner, I tend to agree.

One of my colleague's house has dropped 80K in value over the last year. Another colleague's by 100K. I do know of other's that have declined over 100K. I guess my colleagues aren't doing too badly.
- Peter.

every 4 years now
 

My county moved to reassessing every 4 years. My last one just went up 50%... booooo. The good news is that rate is very low, $.50 / $1000. We get about that much in services too... too few schools or roads.

Chuck