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acroyearremember how a few months back I blogged here: ... with the tax increase from the states, caused by them doing annual property reassesments, continually increasing the "value" of our land (and thus the tax they collect), asssessments which used to only be done every 3 or 4 years, and we're definitely paying more per year than we were 3 years ago, with fewer services than before, and increasing that pay every year to the point that it may outpace the standard-of-living raises we get.
Well, its technically the county doing it, though the state gets the larger chunk of the change. Its their way of raising our taxes withour "raising our taxes". And they did it again, in a BIG way, like almost 25% bigger.
The assessment for our house at purchase time, with the asking price $274K and the final price $277K, was land 59k, building 119k, for a total of 178k. The county's tax assessment for 2002 was 75+143= $218k. (land + house = total) The county's tax assessment for 2003 was 90 + 142 (land up 15k, house down 300) = $232,600 which seemed reasonable at the time.
This year's assessment: Land $112,400 (up $22,500), House $170,200 (up where last year was down, by $30,000), for a total of $282,600. An increase of precisely $50,000.
Now I have problems with this.
1. Its an increase in the value of the house by almost 25%, and I *know* there's no way this house would sell for 25% more than what we paid for it in March of 2002.
2. That the figure is exactly $50,000 makes me seriously think that was not an arbitrary, random luck of the draw, value. The conspiracist in me thinks that figure HAD to be planned that way.
I'm thinking class-action lawsuit may be in order? I'm gonna go talk to the neighbors for a minute.
well, maybe not now, as dinner's almost ready.
Still, at the very least I have to give the mortgage company a call becuase I know there's no way in hell the escrow account is going to be able to cover a 25% tax increase...
Well, its technically the county doing it, though the state gets the larger chunk of the change. Its their way of raising our taxes withour "raising our taxes". And they did it again, in a BIG way, like almost 25% bigger.
The assessment for our house at purchase time, with the asking price $274K and the final price $277K, was land 59k, building 119k, for a total of 178k. The county's tax assessment for 2002 was 75+143= $218k. (land + house = total) The county's tax assessment for 2003 was 90 + 142 (land up 15k, house down 300) = $232,600 which seemed reasonable at the time.
This year's assessment: Land $112,400 (up $22,500), House $170,200 (up where last year was down, by $30,000), for a total of $282,600. An increase of precisely $50,000.
Now I have problems with this.
1. Its an increase in the value of the house by almost 25%, and I *know* there's no way this house would sell for 25% more than what we paid for it in March of 2002.
2. That the figure is exactly $50,000 makes me seriously think that was not an arbitrary, random luck of the draw, value. The conspiracist in me thinks that figure HAD to be planned that way.
I'm thinking class-action lawsuit may be in order? I'm gonna go talk to the neighbors for a minute.
well, maybe not now, as dinner's almost ready.
Still, at the very least I have to give the mortgage company a call becuase I know there's no way in hell the escrow account is going to be able to cover a 25% tax increase...
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Date: 2004-02-18 06:44 am (UTC)I think our property and house assessment went up a ridiculous amount last year - close to your 50,000. But the taxable amount only went up 5%.
And the scary part is what we paid $245,000 for - a year later was selling for $280,000 and now even more. Especially with the neighborhood across from ours starting at $300,000 and the new development around the corner starting at $500,000. Imazing ain't it?
Re:
Date: 2004-02-18 06:46 am (UTC)