Just opened mine and it has gone up almost $900 this year (Higher than it ever has been since 2007). An increase of about 23%. Was surprised that they raised it so much, thought I'd see if everyone was having the same experience. Thanks!
Property Tax Bills
#1
Posted 14 October 2014 - 04:36 AM
#2
Posted 14 October 2014 - 06:43 AM
Mine went WAY up too.
Kimberly Purcell
Productivity Consultant - Amethyst Productivity
#3
Posted 14 October 2014 - 07:25 AM
If you don't mind my asking, was it one particular part that went up? I'm not looking at my tax bill right now, but there's county, city, Folsom Cordova and one or maybe two other designations I can't remember right now.
#4
Posted 14 October 2014 - 09:28 AM
#5
Posted 14 October 2014 - 09:37 AM
I don't have my last one to compare it against right now, but it looks like they've just reassessed the value so the county 1% has gone up. The assessed value went up to 396,000 when our broker just told us it would appraise for 360,000. Not sure how that corresponds.
It might be worth looking into. Mistakes do happen, e.g., all those property owners in Rancho Cordova that were taxed for fire insurance they didn't receive.
#6
Posted 14 October 2014 - 10:03 AM
I don't have my last one to compare it against right now, but it looks like they've just reassessed the value so the county 1% has gone up. The assessed value went up to 396,000 when our broker just told us it would appraise for 360,000. Not sure how that corresponds.
I do not think <10% change of the assessed value from last year could cause a $900 increase in your tax. I would definitively check into this.
On the note about the broker appraisal- since it is lower than your assessed value by the county you might look into having the country do a reassessment...
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#7
Posted 14 October 2014 - 10:19 AM
#8
Posted 14 October 2014 - 11:12 AM
I just went online to the assessor's website and mine went up $700. :-(
#9
Posted 14 October 2014 - 11:50 AM
I do not think <10% change of the assessed value from last year could cause a $900 increase in your tax. I would definitively check into this.
On the note about the broker appraisal- since it is lower than your assessed value by the county you might look into having the country do a reassessment...
The assessed value went up almost $100k. about 23%. (which amounts to a little over $900 annually with the 1%). I don't think it's an accurate assessment, I'll have to look into it. It seems like other's are experiencing large increases too though, so maybe it's trying to get back to values before the recession.
#10 (Cheesesteak)
Posted 14 October 2014 - 12:09 PM
The assessed value went up almost $100k. about 23%. (which amounts to a little over $900 annually with the 1%). I don't think it's an accurate assessment, I'll have to look into it. It seems like other's are experiencing large increases too though, so maybe it's trying to get back to values before the recession.
So . . . . one thing to look into.
You may have had a Prop 8 (1978) adjustmnet (downward) in the past few years. Proposition 8 mandates that local governments conduct "decline in value" reviews when real estate markets drop (and review is requested). With the signifcant decline in real estate values over the past several years - many counties conducted the reassessments and many folks saw their property tax bills go down with falling home prices.
While assessments under Prop 13 are limited to 1% of assessed value and can only increase 2% per year - if you've had a Prop 8 reduction - there is no cap on how fast your property tax can increase until it reaches the prior Prop 13 value. So - If you previsouly paid, lets say, $5,000 / year in property taxes, and the Prop 8 decline brought you down to, say $4,000 for the past couple of years - once home values increase - as they have in Folsom - if your home gets back to its original value (or more) - in that next year your property taxes can go back up to $5,000 that year. Yes - that would mean a $1,000 increase that year.
Here's more on Prop 8 adjustments:
http://www.assessor....es/default.aspx
http://www.boe.ca.go.../faqs/prop8.htm
Not sure if that's your case - but I'm sure lots of folks are waking up to the readjustment . . .
#11
Posted 15 October 2014 - 07:09 AM
I had dinner this summer with a gentleman who does the assessments for another county. When I said something about having gotten a successful reduction a few years ago he said, hang on to your hat because the counties have been instructed to review and increase the values as much as they can to increase the taxes.
Kimberly Purcell
Productivity Consultant - Amethyst Productivity
#12
Posted 15 October 2014 - 07:36 AM
I am personally glad that they finally made a change to Prop 8.
#13
Posted 15 October 2014 - 09:24 AM
my bill went up almost $1000
#14
Posted 15 October 2014 - 03:46 PM
+ 329.12 here!!
#15
Posted 15 October 2014 - 04:05 PM
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