Author Topic: Biggest Property Assessment Jump?  (Read 448 times)

JoJo

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Biggest Property Assessment Jump?
« on: September 09, 2017, 12:23:40 PM »
Holey Snikeys!!!

Just got my appraisal for next year.  Jump from 392 to 530...over 35% jump.  Not looking forward to that tax bill next year.

Anyone have bigger?

jennifers

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Re: Biggest Property Assessment Jump?
« Reply #1 on: September 09, 2017, 10:38:56 PM »
That's impressive. What area are you in? My property assessment went up 25% a few years ago and I was very annoyed.

JoJo

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Re: Biggest Property Assessment Jump?
« Reply #2 on: September 10, 2017, 09:18:24 AM »
That's impressive. What area are you in? My property assessment went up 25% a few years ago and I was very annoyed.

PNW.   This adds over $100 per month to the tax... ugh!

waltworks

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Re: Biggest Property Assessment Jump?
« Reply #3 on: September 10, 2017, 09:46:38 AM »
In the areas I've owned property (mostly the intermountain west) the county only re-appraises every 5 years or so. So (in a rising market) you'll see very small increases for a while, then a big jump after 4 or 5 years. That's assuming no additional levies from the school district or other tax rate increases, of course.

Our jumped about 20% this year, after single digit increases the last several years. C'est la vie.

-W

srad

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Re: Biggest Property Assessment Jump?
« Reply #4 on: September 12, 2017, 04:31:02 PM »
Yea they can and will get you.  My current home, taxes were 1900 when i purchased it.  I was like sweet, that's a deal!  Got one year with that amount,  The following year tax literally jumped to 3500.  The assessed value went up 70%.  And i did not put 70% of improvements in (yet, i have now + a ton more).

And i'm nervous for the next tax year.  We did big upstairs remodel recently.  City's property assessor knocked on my door a few weeks ago asking to get in to view it.  I said no, and he was like well, if i don't get in we may end up valuing your property for more than its worth.  I did a high end remodel, so i doubt it will come in over what the place is really worth.  So I took the gamble...  But I know i'm going to be paying more soon!

JoJo

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Re: Biggest Property Assessment Jump?
« Reply #5 on: September 12, 2017, 06:12:48 PM »
Yea they can and will get you.  My current home, taxes were 1900 when i purchased it.  I was like sweet, that's a deal!  Got one year with that amount,  The following year tax literally jumped to 3500.  The assessed value went up 70%.  And i did not put 70% of improvements in (yet, i have now + a ton more).

And i'm nervous for the next tax year.  We did big upstairs remodel recently.  City's property assessor knocked on my door a few weeks ago asking to get in to view it.  I said no, and he was like well, if i don't get in we may end up valuing your property for more than its worth.  I did a high end remodel, so i doubt it will come in over what the place is really worth.  So I took the gamble...  But I know i'm going to be paying more soon!

Wow!  I don't feel so bad about my 35%!   Sorry for your bad fortune.

badassprof

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Re: Biggest Property Assessment Jump?
« Reply #6 on: September 12, 2017, 06:47:06 PM »
Our neighbor's house just sold for 950,000 more than when they purchased it in 2010: not looking forward to our reassessment. We do have prop 13 here (couldn't imagine if we didn't) but still pay over 15,000 a year property taxes. ugh!

bacchi

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Re: Biggest Property Assessment Jump?
« Reply #7 on: September 12, 2017, 08:44:09 PM »
And i'm nervous for the next tax year.  We did big upstairs remodel recently.  City's property assessor knocked on my door a few weeks ago asking to get in to view it.  I said no, and he was like well, if i don't get in we may end up valuing your property for more than its worth.  I did a high end remodel, so i doubt it will come in over what the place is really worth.  So I took the gamble...  But I know i'm going to be paying more soon!

Ha! I did the same and the assessor just flat out made up numbers. They have the permit, and the city won't allow deviation from that, but my 600 foot addition still became a 1300 foot addition with 2 extra bedrooms and en suite bathrooms.

A property tax lawyer told me that I had pissed off the assessor and he was trying to get back at me.

srad

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Re: Biggest Property Assessment Jump?
« Reply #8 on: September 13, 2017, 08:05:53 AM »
I knew why he was at my door as soon as he introduced himself.  So i did my best to be as nice as possible, made all kinds of small talk.  We'll see how it turns out.  And again, 1900 was very low for the area.  But to make it up after one year?  that was a bummer.

GuitarStv

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Re: Biggest Property Assessment Jump?
« Reply #9 on: September 13, 2017, 08:29:09 AM »
390 (when we purchased) went to 640 a few years later when we were reassessed.  Our property tax stayed the same though, because that was around the average rate of appreciation for houses in the area.  :P

theoverlook

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Re: Biggest Property Assessment Jump?
« Reply #10 on: September 18, 2017, 12:07:38 PM »
Was at $335k, new value $662k. I will be contesting it! I have an appraisal on hand for $550k so I'll have to be happy with that.