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Just got the notice in the mail that my home value has been reassessed again. Second time in less than 12 months. And again the assessed value has been increased. A total of nearly $10,000 in the past 12 months. WTF?
It'll be difficult to contest since the house at the end of the street sold for an insanely high price. Of course that house was completely gutted and had new everything installed - including new plumbing, electric, windows, doors, roof, flooring, fencing, bathrooms, kitchen and cabinetry. Given the local politics probably the only way I could get my assessed value lowered is to get an appraisal showing a lower value - and I have neither the time or the money to invest in that.
My property taxes increased well over 20% last year with no change in assessed value. There are significant increases in millage rates that will take effect his year. Gotta pay for a new sports stadium and a new convention center and for major road repairs necessitated by years of neglect.
Meanwhile rental properties are overbuilt and rental rates remain mostly unchanged over the past 5 to 10 years. The apartment I lived in 10 years ago acrtually rents for less today than it did then.
I can't wait to moon the city limit sign when I finally see this place in my rear view mirror for the last time.
I know someone who lives in another metropolitan area within 100 miles who has a small acreage (4 acres) a new home that is 30% larger than mine who paid considerably less in property taxes last year than I did. My property tax this year will probably be double theirs. Something is most definitely wrong with that picture.
:rant:
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