Housing Cost Increase and Taxes

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Timmy59

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Housing has gone up to unprecedented levels and few have given thought to the consumer. The taxes of the home you currently own is worth more and therefore, your taxes will increase. Same as a gallon of gasoline, state and federal taxes will go up with the increase in cost and the states and feds will reap the benefits. And we take the hit. Everything is going up and the associated taxes, groceries, fast food, I've never seen it this bad that I can remember, and this is just the start of Joe's reign.

The plandemic hit the supply chain and the mmj industry hit OUR real estate market, double whammy.. Plus all the good things that go along with the mmj ind, increased pop of unwanteds, reefer ranches next to your homestad etc etc.. I know they needed tax dollars but what a fkn bone head move.. We're living in the biggest Dupe the worlds ever seen..Good times creates weak men and hard times now is going to create herds of Zombies.. lol..
 

SoonerP226

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"Despite any provision to the contrary, on and after January 1, 2013, the fair cash value of any parcel of locally assessed real property shall not increase by more than 5% in any taxable year; provided, if such property qualified for a homestead exemption or is classified as agricultural land, any increase to the fair cash value of such locally assessed real property in a taxable year shall be limited to 3%."
What that means is when the county assessor arbitrarily decides that your property's value has gone up 25%, he's going to jack your rates 5% per year until you're paying what he believes you should be.

What really ground my gears was when those damn tax and spend Republicans in the legislature got onto county assessors who weren't jacking up assessments.
 

Parks 788

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See, one of the few things that CA got right, not the govt, was to pass Prop 13. This was legislation that allowed the state to only increase the property taxes no more than 3% per year max. The libs are always trying to change the law but so far have been unsuccessful.

I'm not sure I see much of the problem some of you are talking about other than the % taxed keeps going up. I get it, mine went up 3% every year. The ridiculous thing about CA, one of many, is that if you sell your home the new owners will pay the full assessed value of the property which is the property taxes based on the purchase price. For instance, my property taxes that i just paid for 2020/2021 were $8100. The guy that just bought my house will have a property tax bill of over $22K per year. My assessed value was was less that half of the actual value of the property. I'm guessing your property values are not going up the same amount of your assessed value? Is that the beef everyone has?
 

dennishoddy

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This is the letter I sent in to make the successful appeal of an excessive market valuation. I was asking for a $70,000 reduction in market value and received a 40,000 reduction.

Don't be afraid to make an appeal, just have your ducks in a row.

Ms. xxxxx,

Per the instruction listed in the language within the County Assessor Notice of Increase in Valuation I received, I would like a appeal the values on my property. I am providing the attached information for a telephonic hearing as instructed.

My assessed Market Value is ~$30.52 per total area (assumed this is square foot) higher than the most recent comparable arm’s length sales transaction in my neighborhood that completed in 2018. And in excess of $25 per area higher than a less recent arm’s length transaction that completed in 2016 (this property has a pool and other amenities my property does not).

The best estimate of market value is using current arm’s length transactions. Using 2 recent arm’s length transactions, my property’s assessed values are substantially higher than true market value.

Attached are form 974 (file names xxxx 974), “Assessment Detail” documents from the County Assessor’s website and a document (xxxx Comps) comparing my property to recent arm’s length sales of properties in my neighborhood using current values of additional properties from the Rogers County Assessor’s website.


Thank you for your time,

I’m going to have to try this technique out.
We are two miles away from a small community they compare us with. The community has paved roads with curbs.
We have 3 tenths mile gravel road with a well.
They have city water
 

dennishoddy

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One way the ASSessor gets around the tax increase limit is to increase based on improvements. Kind of makes one not want to make improvements.

Anything they can see from the outside, they will tax.

Exactly. We built a small patio that is 20’X 10’. Assessors ramped us up for that.
 

Shinneryfarmer

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Watch out if you pay off your mortgage also. Payed mine off and 3 days later county assessor was at my farm reassessing the value. In conversation I made the comment about paying it off and now she was here. She stated that the county gets notified when the lien is released and laughing now that I don't have have a payment I can pay higher taxes. I was not laughing. Luckily mine is capped at 3%.
 

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