|
Posted by P.Schuman on March 23, 2008, 5:50 am
with the housing downturn - I wonder if anyone has gone to their local
county
and had their taxes lowered based upon a lower appraised value ?
--
----------------------------------
"If everything seems to be going well,
you have obviously overlooked something." - Steven Wright
--------------------------------------
Misc.invest.financial-plan is a moderated newsgroup where Moderators strive
to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
which we respond. For all of the other tips and suggestions, see "FROM THE
MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the
Newsgroup.
|
|
Posted by Avrum Lapin on March 23, 2008, 8:00 am
> with the housing downturn - I wonder if anyone has gone to their local
> county
> and had their taxes lowered based upon a lower appraised value ?
Last time there was a housing decline in California the County Assessor
(elected) went out and gave seminars on how to get your assessment
lowered. This being California with Prop 13 on;y recent purchases were
impacted. It remains to be seen if the current assessor will do the
same thing.
--------------------------------------
Misc.invest.financial-plan is a moderated newsgroup where Moderators strive
to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
which we respond. For all of the other tips and suggestions, see "FROM THE
MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the
Newsgroup.
|
|
Posted by Ron Rosenfeld on March 23, 2008, 9:44 am
On Sun, 23 Mar 2008 04:50:58 -0500, "P.Schuman"
>with the housing downturn - I wonder if anyone has gone to their local
>county
>and had their taxes lowered based upon a lower appraised value ?
I did that during the downturn in the 1990's, and saved about $1,000 per
year in taxes.
I had had a formal appraisal done in April of that year (trying to
refinance my mortgage) and, since the assessment is based on April values,
the appraisal was timely. I also looked at the comps to determine their
assessment vs fair market value; as well as doing the same thing for recent
sales.
Armed with this information, I was able to lower my assessment enough to
result in the above tax savings. (The appraisal cost was about $350, at
that time, if I recall correctly).
--ron
--------------------------------------
Misc.invest.financial-plan is a moderated newsgroup where Moderators strive
to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
which we respond. For all of the other tips and suggestions, see "FROM THE
MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the
Newsgroup.
|
|
Posted by Thumper on March 23, 2008, 10:35 am
On Sun, 23 Mar 2008 04:50:58 -0500, "P.Schuman"
>with the housing downturn - I wonder if anyone has gone to their local
>county
>and had their taxes lowered based upon a lower appraised value ?
If they were lowered across the board, as their real worth has been,
the tax rate would simply increase to make up the shortfall to the
city or town.
Thumper
--------------------------------------
Misc.invest.financial-plan is a moderated newsgroup where Moderators strive
to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
which we respond. For all of the other tips and suggestions, see "FROM THE
MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the
Newsgroup.
|
|
Posted by Don on March 23, 2008, 5:07 pm
> If they were lowered across the board, as their real worth has been,
> the tax rate would simply increase to make up the shortfall to the
> city or town.
> Thumper
Even in the same city, or in a limited region within a city, values can
go down (and also up) to different degrees. In the neighborhoodd where
I live, average sales prices increased about 4% last year. But ten
blocks or so down the road, where a lot of houses overlook the water,
average prices increased about 15%.
--------------------------------------
Misc.invest.financial-plan is a moderated newsgroup where Moderators strive
to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
which we respond. For all of the other tips and suggestions, see "FROM THE
MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the
Newsgroup.
|
| Similar Threads | Posted | | Life insurance to avoid estate taxes? | April 23, 2008, 11:48 am |
| Real Estate | September 2, 2007, 2:23 pm |
| Real Estate vs. Stocks | May 19, 2007, 10:26 am |
| Real Estate - Selling to Nephew? | June 12, 2008, 7:07 pm |
| Question About a 1031 Real Estate Transaction | October 26, 2006, 5:03 am |
| How to value interest in real estate limited partnership? | January 6, 2007, 4:06 pm |
| Income producing real estate - enlighten me!!! | January 9, 2007, 12:22 am |
| bank exposure to real estate loans | July 2, 2007, 8:17 am |
| cd's & taxes | October 17, 2006, 12:33 pm |
| IRA penalty and taxes | January 4, 2007, 4:59 am |
|
|
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap