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Was anyone else shocked to receive a lower value on their property with the 2007 reappraisal? My home decreased by $25k while the land (city lot) increased. I thought your home was supposed to be a good investment. Were the earlier appraised values inflated? It seems the lower appraisal will be good for decreasing my taxes, but how does that affect my asking price if I am getting ready to sell? And doesn't that affect the amount the schools will receive? Any info appreciated from other posters.
By puzzled old guy
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Its a windfall
The county market value has little or no correlation to a sell price if you were to some day sell. However if you do sell your home actual selling price does have an affect on the county market value they place on the other homes in the future. This is computer generated values and it blindly looks at sell prices and compatables. So I wouldn't take offense and just enjoy paying lower taxes for a brief period.
I suspect that what has been happening that the many foreclosures in the county The homes comparable to yours and mine had either been in foreclosures or they sold for a very low price.
Considering the number of people that told me their home value increased by twenty or more thousand dollars I doubt the schools will see any negative affects of a few homes decreasing in value. For those of us the saw the decreases then that means we pay lower property taxes next year in most cases. So MUMS the word. I would view the lower new value as a windfall.
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GREAT question
Everyone on my street was in the exact same boat. Don't know - guess we need to contact Barb Curtiss, but I agree with the ''mum's the word'' approach from the windfall guy.
Hear no evil...see no evil...
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Homestead?
Could some of these reduced apprasisals be part of the new homestead exemption?
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