N.B. This thread is for Q&A about filing the county reassessment form and the potential for success (or failure). It is hope that those who have done so will share their experiences.

In my neighborhood my home assessment has gone up $13,000, although the same model in the neighborhood has either dropped or stayed even. The assessment office told me via e-mail that it was a correct assessment.

It is very disheartening to get this information, since I can't understand why my home is suddenly assessed more that similar homes.

Does it really do any good to file the comparison form and ask for a reassessment? What are the salient factors to include that really matter; e.g., square footage?

Any opinions on whether to file with the county real estate folks vs. the board? There seems to be an option which implies that the board is more independent (more honest?).

Dude,

A $13,000 increase in your assessment means that your taxes will increase by $115/year. Is it really worth your time and trouble to bother with this?

The amount is a low one, but to put it into proper perspective if he is arguing it should have gone down the amount it was assessed upward, the difference would then be $230/year. At $20/month payoff it may indeed not be worth the time and frustration.

Also...don't forget that there is a good chance the tax rate will go up this year

Exactly, since most assessments went down in the county they are going to raise the rate to offset that. So you are screwed either way.

For what Connelly's statement is worth, he said (iirc) in the note included with the assessments that the goal is to keep the rate the same and cut services as appropriate.

Helpful comments. Thanks.

It very well may not be worth the effort/frustration to file for re-assessment. I suspect now, that last purchase price may be the key; i.e., c. 1984 when I purchased my home, it cost ~$10-12,000 more than similar homes. I'm thinking that the algorithm has to do with the last purchase price.

I doubt, therefore, that I would have any chance for a lower or equal assessment.

Any other thoughts? Any successful appeals out there?

It is very much worth appealing the assessment. Reason one is that the county pulled a fast one by dropping home values and making huge increases on land value.

When home prices start to climb back up then they will make huge increases in home values and leave land values alone. Then they can say "Well look we didnt touch the land value, arent we nice."

Just more of Connellys shell game to stick it to the taxpayers. You want your home value to go up then kick out those putting five families in a single family home. Who wants to live next to that?

Travis Bickel Wrote:
-------------------------------------------------------
> It is very much worth appealing the assessment.
> Reason one is that the county pulled a fast one by
> dropping home values and making huge increases on
> land value.
>
> When home prices start to climb back up then they
> will make huge increases in home values and leave
> land values alone. Then they can say "Well look we
> didnt touch the land value, arent we nice."
>
> Just more of Connellys shell game to stick it to
> the taxpayers. You want your home value to go up
> then kick out those putting five families in a
> single family home. Who wants to live next to
> that?


Home prices have a LONG way to fall before they "start to climb back up".

And prices will NEVER climb back to where they were during the boom (adjusted for inflation).

The whole boom was financed by the NINJA (No Income, No Job or Assets) loans that we will never see again.

I will agree it could take many years. Still this shell game of using land values sucks.

The problem is a minority of people want the government to bail them out of stupid decisions. I do not know of anyone personally that is facing foreclosure.
I know of a few people who spent beyond their means. I know of even more who took equity out of their homes to finance new electronics, vacations and new cars.

A smart person would only use home equity for improvements on the home to increase its value or in the case of a true emergency.

Too many thought the housing boom would last forever and that 10-20% increases would happen every year. Then there was the other half that were into flipping homes and got caught short. I see no need to bail either one out with my dollars.

If these people are bailed out, which I believe the government will do on our backs, it will only encourage them to make poor choices again in the future. They know there is no risk since the taxpayers will always bail them out.