Based on the $$ I paid 17 years ago and the $$ I pay now for the same house....my tax has increased on average 10% per year. I am paying almost 5X now than what I paid 17 years ago.
7NKNy Wrote:
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> CNdPP Wrote:
> --------------------------------------------------
> -----
> > Adjusting for inflation is interesting...
> >
> >
> > Year Rate Adjust Adjusted
> > to 2016 Tax
> > 2016 1.130 1.13 508.47
> > 2015 1.090 1.09 490.47
> > 2014 1.090 1.09 465.34
> > 2013 1.075 1.08 445.93
> > 2012 1.070 1.10 436.59
> > 2011 1.090 1.15 456.44
> > 2010 1.040 1.13 457.07
> > 2009 0.920 1.02 500.30
> > 2008 0.890 0.98 491.02
> > 2007 0.890 1.02 511.06
> > 2006 1.000 1.18 591.23
> > 2005 1.130 1.37 561.98
> > 2004 1.160 1.46 445.24
> > 2003 1.210 1.56 404.54
> >
> >
> > This doesn't tell the complete story though.
> > Since Fairfax also controls the value of
> > assessment they can get any number they want
> > though. That's the final column for a typical
> > property in Fairfax county.
> >
> > Just based on this data, I would say Fairfax
> was
> > slow to adjust to the initial onset of the
> housing
> > bubble (around 2006) -- The tax rate dropped
> but
> > the final revenue to the County was still
> growing
> > quickly between 2003-2006.
> >
> > Overall taxes have been going down since 2006
> but
> > mostly due to declining assessments. The tax
> rate
> > has fairly flat since 2008. But assessments
> are
> > climbing again... The final revenue to the
> County
> > has steadily been on the rise since 2012.
>
>
> You can adjust for inflation in the tax rate, or
> in the assessment, but not both. If you adjust in
> both, you are doubling the impact of inflation,
> which some may want, but I doubt that is your
> objective. If the assessments float naturally
> upward with inflation and housing markets, then
> the rate does not need to be changed. Of course,
> all that goes out the window when markets stall
> and do not appreciate.