Ombud
Junior Associate
Joined: Jan 14, 2013 23:21:04 GMT -5
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Post by Ombud on Mar 18, 2014 9:22:32 GMT -5
About $2700 on $700,000 house in CA. 1/2 of that is special assessments. We approve everything here. Extra street lights, buy / develop another park, mello roos, town wanted its own library ect
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steph08
Junior Associate
Joined: Jan 3, 2011 13:06:01 GMT -5
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Post by steph08 on Mar 18, 2014 9:37:43 GMT -5
Our old/rental house - about $300 on a $60k house with 9 acres.
Our new house - $2200 on a $160k house with 1 acre. New school district and township. Same county.
I miss my old taxes!!
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Deleted
Joined: May 19, 2024 1:57:43 GMT -5
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Post by Deleted on Mar 18, 2014 9:40:32 GMT -5
This thread reminds me that it's about time for my property tax bill to come and then I can apply for my refund. MN refunds a portion for lower income (under 105K) and a special refund for any income if your taxes have increased more than a certain percent (I think 12). Last year I only got a couple hundred back, but the year before almost a third of my taxes were refunded.
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wewillsee
Established Member
Joined: Mar 8, 2011 14:12:19 GMT -5
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Post by wewillsee on Mar 18, 2014 10:57:59 GMT -5
What % of your homes' value do you pay in real estate taxes each year? Our house is worth +/- $400,000. Annual property taxes last year was about $8,400 so about 2.1% +/-. This doesn't include trash and recycling of about $30 per month.
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Gardening Grandma
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Post by Gardening Grandma on Mar 18, 2014 11:40:19 GMT -5
What % of your homes' value do you pay in real estate taxes each year?
Our property tax is less than 1% of the assessed value. $2357 on assessed value of $238,793. The appraised value was over $400,000.
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Deleted
Joined: May 19, 2024 1:57:43 GMT -5
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Post by Deleted on Mar 18, 2014 11:59:17 GMT -5
$2357 on assessed value of $238,793. The appraised value was over $400,000. How come there is such a gap between assessed value and appraised value?
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The Captain
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Post by The Captain on Mar 18, 2014 12:13:19 GMT -5
TheHaitian - I can't speak to GG's situation, but how property is assesed varies greatly. In my area - the assessed value is (in theory) supposed to equal 1/3 of the appraised value. The appriased value will change depending on the "best and highest use" of the property. So for example, a single family home that is owner occupied may be appraised at say $100k. Now if I take that same property and turn it into a rental it automatically becomes appraised at a higher value, like $130K, because it is now an income property. Around here it's a bit of a game, with the assessors constantly increasing certain property values and the property owners having to constantly appeal the valuation. AND add to that, the assessed value is then reduced (depending on the circumstances) by a homeowner's exemption, a senior exemption, veterans exemptions, disabled exemptions, and in some cases, permanently frozen by a low income senior Freeze exemption and I can understand how the agencies that rely on the revenues have a hard time getting their budgets finalized.
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Deleted
Joined: May 19, 2024 1:57:43 GMT -5
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Post by Deleted on Mar 18, 2014 12:23:29 GMT -5
I just logged in to check if ours was up yet and it's dropped again, that's 7 years in a row now. Down to $2156 on about 260K assessed. 2007 it was $2632 and it's been dropping about $100/year. I'm guessing that's somewhat unusual...
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Gardening Grandma
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Post by Gardening Grandma on Mar 18, 2014 13:30:26 GMT -5
$2357 on assessed value of $238,793. The appraised value was over $400,000. How come there is such a gap between assessed value and appraised value? Well, here there always has been a gap. Also, the assessor does not know we've finished the lower area (walkout basement). The appraisers (both of them) saw it and included it in the appraisal. Ditto landscaping. The assessor came out the week we closed before anything was done.
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busymom
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Post by busymom on Mar 18, 2014 15:41:10 GMT -5
Perfect timing! Tax statements just arrived today on our property AND Mom's property.
We live in 2 different counties. Mom's house is in a major city, & her rate is 1.6%. Our house is at 1.3% Both of us might be eligible for a property tax refund, but it's based on income.
Captain, what state is your Dad's property in?
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The Captain
Junior Associate
Hugs are good...
Joined: Jan 4, 2011 16:21:23 GMT -5
Posts: 8,717
Location: State of confusion
Favorite Drink: Whinnnne
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Post by The Captain on Mar 18, 2014 16:00:55 GMT -5
Perfect timing! Tax statements just arrived today on our property AND Mom's property.
We live in 2 different counties. Mom's house is in a major city, & her rate is 1.6%. Our house is at 1.3% Both of us might be eligible for a property tax refund, but it's based on income.
Captain, what state is your Dad's property in? Kentucky
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