Another Assessment Vent (by MAP [NY]) May 3, 2021 12:30 PM|
Another Assessment Vent (by Allym [NJ]) May 3, 2021 12:42 PM
Another Assessment Vent (by MAP [NY]) May 3, 2021 12:54 PM
Another Assessment Vent (by Jerry [MA]) May 3, 2021 3:42 PM
Another Assessment Vent (by Robin [WI]) May 3, 2021 5:04 PM
Another Assessment Vent (by 6x6 [TN]) May 3, 2021 8:00 PM
Another Assessment Vent (by W [CA]) May 3, 2021 10:50 PM
Another Assessment Vent (by MAP [NY]) May 4, 2021 4:44 AM
Another Assessment Vent (by Scott [IN]) May 4, 2021 10:23 AM
Another Assessment Vent (by Jerry [MA]) May 5, 2021 12:35 AM
Another Assessment Vent (by Bill [KY]) May 5, 2021 8:45 AM
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Another Assessment Vent (by MAP [NY]) Posted on: May 3, 2021 12:30 PM
Just got the assessment letter on my duplex in a B/C class area (blue collar working/welfare mix). 67.4% increase!!
Purchased the dilapidated heap for 35K, put about 30K into it in materials; we did about 99% of the labor. We are getting older so wanted to have all the upgrades done in advance. Screened the H E double hockey sticks out of applicants and got two decent ones (older women with one adult child) who are paying consistently.
Was hoping to get it down to a 10% increase as it is currently valued at 50K .
Any tips? I have fought assessments before and usually end up coming to a compromise, however it is the first time in this particular township.
Another Assessment Vent (by Allym [NJ]) Posted on: May 3, 2021 12:42 PM
I think the regime is trying to get as many people as possible out of their properties by default to take them over. But the military has just awakened and 10 generals are requesting FBI info. Hang in there. I sold my two four plexes to an attorney who does property tax appeals and he just put them on the market again. But then maybe it's just because people are investing in solid things. --108.24.xx.xx
Another Assessment Vent (by MAP [NY]) Posted on: May 3, 2021 12:54 PM
Sad to say we have just starting getting back into rentals just before COVID hit in October 2019; seemed like a good idea at the time. How quickly things can change.
Timing is everything. My husband and I have notoriously bad timing (luck?) LOL
We will just have to hang tight for now, it seems.
Another Assessment Vent (by Jerry [MA]) Posted on: May 3, 2021 3:42 PM
Given the cost numbers you provided, I'm surprised it wasn't more. 30K added to 35K is an 85% increase in what you have invested in the property, not counting any sweat equity. --71.233.xxx.xx
Another Assessment Vent (by Robin [WI]) Posted on: May 3, 2021 5:04 PM
I just got ours, along with a letter stating that they would not be considering any appeals this year due to COVID.
The amazing thing is that every single property had a ZERO percent increase! The politicians in the Midwest are still somewhat rational, at least. But please don't start investing in my neighborhood--I'm planning to load up once housing prices drop! --104.230.xxx.xx
Another Assessment Vent (by 6x6 [TN]) Posted on: May 3, 2021 8:00 PM
They may make up ground next year Robin. --73.120.xx.xxx
Another Assessment Vent (by W [CA]) Posted on: May 3, 2021 10:50 PM
In CA, it is very rare for a property to be reassessed due to Prop 13. Assessment occurs when purchased based on the sale price. Pay $30k, then the assessment is $30k. 1% yearly tax or $300. You might want to try to get a Prop 13 passed where you live - never getting reassessed until you sell the property is nice. www dot hjta dot org for details. --201.140.xxx.xx
Another Assessment Vent (by MAP [NY]) Posted on: May 4, 2021 4:44 AM
90% of the improvements were interior. They are just looking at the exterior. I printed up four recent sales in the area, similar bldg age,structure, exterior condition. All sold between 43 and 57K. The village was recently dissolved (5 yrs ago) so it is obvious they are comparing what was once strictly "town" properties to the old "village" properties which are older and less desirable (my duplex along with these commis are all in the old village area. --72.231.xxx.xx
Another Assessment Vent (by Scott [IN]) Posted on: May 4, 2021 10:23 AM
Not so rational in my little corner of the Midwest. One of mine went up 169%. --107.141.xx.xxx
Another Assessment Vent (by Jerry [MA]) Posted on: May 5, 2021 12:35 AM
Did you pull any permits? If you did the numbers on the permit might have been considered, regardless of them only viewing the exterior.
Another Assessment Vent (by Bill [KY]) Posted on: May 5, 2021 8:45 AM
I previously mentioned in another thread I received 50% prop value increases this year on 3 properties. I protested the assessments online and received a call from the PVA yesterday (1 day after the protest, I was shocked by the turnaround).
We reached an agreement on what I proposed the value should be, a 5% increase rather than 50%. The assessor was sympathetic as he lives nearby and couldnít believe the increases either. He told me we are in a bubble, everyone knows it.
Pro Tip: I wrote a 1 paragraph short & sweet protest with a scathing accusation about how disappointed and shameful it is for the PVA to use a global pandemic that resulted in historically low inventory driving up prices as the catalyst to increase property taxes.
I also claimed that the properties were rental property and thus not as valuable as the sales comps provided. I provided 3 property sales comps that I believed to be a more accurate representation of value. One thing I didnít know was the assessor could take into account the monthly rental value of the homes to determine value. All 3 protests were approved thankfully. PVA assessor wasnít the boogeyman...a normal human being living nearby that was also shocked (& I believe secretly outraged) by the assessments. Rational parties on both sides prevailed.
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