There continues the talk of both counties wanting to reassess (oh! i mean wanting to increase assessments! sorry!) everyone. They want to make it fair, and level the playing field. They are sooooooo concerned about us.
Property taxes have risen more than twice the rate of inflation over the past decade. With prices going up like they have been for the past few years, there was NO talk of reassessments. Now......... as in 1990 when prices started to drop, they are talking reassessment. That way they can catch the values while still historically high at the time. And they say that history repeats itself! Indeed again it is! Or at least they are trying!
I recently read a fact that fewer than 1 in 50 homeowners try to appeal assessments even though up to 60% of properties are overvalued by assessors, cited by the National Taxpayers Union. So if you file to do so, your chances are very good.... unless the entire town decides to do it with you.
As stated in the recent issue of Money Magazine, there are five items to be either done or have to have:
1- obtain the property card from the county assessors office
2- an appraisal dated near the time given of your assessment
3- print-outs from the multiple listing service reinforcing your sales
4- photographs of your home and of all of the comparables
5- outline your case, and rehearse you pitch keeping it brief
This article goes into more detail but I suggest looking it over if contemplating it under the current assessment, or possibly (probably?) when it is redone, quite possibly soon. Both counties are thinking seriously but are not quite sure how to throw it at the public in these tight times. But this was done before and you be sure they will throw it at property owners again!
Sometimes it is irresponsible not to appeal! It's your checkbook!